Banks most effective at promoting a shift away from high carbon output
Naidoo, 9 [Dinesh, The Graduate School of Business, University of Cape Town, Masters of Business Administration Degree, http://www.scribd.com/doc/47518549/Climate-Change-and-the-Role-of-Banks-A-Study-on-the-Corporate-Response-from-the-Major-Banks-in-South-Africa, “Climate Change and the Role of Banks”, Accessed July 21, //SH]
The challenges posed by climate change are fast emerging as one of the primary concerns for firms, investors and governments. The banking sector is considered an influential intermediary within the economy, capable of mitigating the economic risks arising from climate change and promoting a shift toward a low carbon economy. This study examines the corporate response of major banks in South Africa to the problem of climate change. It employs two different assessment metrics to evaluate the nature of the climate actions taken by these banks and evaluates the quality of these actions in comparison with international banking benchmarks