Aussie banks investing in net zero faster than global peers

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Microsoft says Australian banks are putting their money where their ambitions are as the race to net zero hastens.

Australia’s banks are making more investments to achieve net zero commitments than their global peers, spending on the measurement of their existing emissions and technology to help specific industries they finance, according to a new study commissioned by Microsoft.

The investments are being used to ensure banks can measure their own emissions and those of the industries they finance. Mr Shoemaker said the systems used “can’t be overly complex” and processing cannot be too manual to reach a point where managing environmental risk is as core to the banks as managing financial risks.

“Such a heavy aspect of it is scope three or financed emissions [for banks], and so that piece around helping their client portfolio or helping their suppliers transition is a critical one to get to, to be able to get to net zero,” Mr Shoemaker said.

 

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Why does Microsoft care where our Electricity is coming from. I worry more where MSFT sources its raw materials from and are they ethically sourced

Have they checked the net zero disaster unfolding in Europe?

Microsoft, the PC software company, is now guiding Australian banks investment? 🙄

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