---
title: Helping financial institutions to tackle the climate crisis
description: Financial institutions, such as banks and insurance companies, have a key role to play in limiting global warming to no more than 1.5°C, beyond which catastrophic impacts for people and nature become inevitable.
image: https://latest.earthhour.org/hubfs/Small_WW2126869.jpg
---

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# Helping financial institutions to tackle the climate crisis

Posted on 05 December 2020

Financial institutions, such as banks and insurance companies, have a key role to play in limiting global warming to no more than 1.5°C, beyond which catastrophic impacts for people and nature become inevitable.

We therefore welcome the [new framework](https://sciencebasedtargets.org/financial-institutions-2-2/) developed by the WWF-backed Science Based Targets initiative (SBTi). This enables financial institutions to set science-based targets that align their lending and investment activities with the UN global climate agreement. The SBTi has also released a [new report](https://sciencebasedtargets.org/wp-content/uploads/2020/09/foundations-for-net-zero-full-paper.pdf), which sets out the way forward for companies to set targets that ensure net-zero emissions of greenhouse gases – the cause of global warming – by no later than 2050.

![Jashim Salam / WWF-UK](https://latest.earthhour.org/hubfs/Small_WW2126869.jpg) **

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![Jashim Salam / WWF-UK](https://latest.earthhour.org/hubfs/Small_WW2126869.jpg)

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