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Finance for the Future– the Effectiveness of Voluntary Net-Zero Alliances for Financial Institution

de Laat, Luka LU (2023) EOSK12 20231
Department of Economic History
Abstract
Scaling up climate finance is vital for avoiding the worst impacts of climate
change and limiting global warming. In this light, multiple Voluntary Net-Zero Alliances for Financial Institutions (VNZAFIs) have been founded, directing capital flows from financial institutions towards climate action. Nonetheless, the contributions of VNZAFIs to the Paris Climate Goals can be put into question. This study determines the effectiveness of VNZAFIs in aligning the climate action plans of their members with the Paris Climate Goals. Through the development and application of a scoring framework, the climate alignment of the current action plans of financial institutions that are allied to the Dutch VNZAFI Klimaatcommitment Financiële Sector will be... (More)
Scaling up climate finance is vital for avoiding the worst impacts of climate
change and limiting global warming. In this light, multiple Voluntary Net-Zero Alliances for Financial Institutions (VNZAFIs) have been founded, directing capital flows from financial institutions towards climate action. Nonetheless, the contributions of VNZAFIs to the Paris Climate Goals can be put into question. This study determines the effectiveness of VNZAFIs in aligning the climate action plans of their members with the Paris Climate Goals. Through the development and application of a scoring framework, the climate alignment of the current action plans of financial institutions that are allied to the Dutch VNZAFI Klimaatcommitment Financiële Sector will be determined. The main finding of
this case study is that currently, the climate action plans of financial institutions are not climate-aligned, contesting the effectiveness of VNZAFIs. (Less)
Please use this url to cite or link to this publication:
author
de Laat, Luka LU
supervisor
organization
course
EOSK12 20231
year
type
M2 - Bachelor Degree
subject
keywords
Climate change, Climate finance, Voluntary Net-Zero Alliances for Financial Institutions, Climate Action
language
English
id
9122535
date added to LUP
2023-06-22 12:28:49
date last changed
2023-06-22 12:28:49
@misc{9122535,
  abstract     = {{Scaling up climate finance is vital for avoiding the worst impacts of climate
change and limiting global warming. In this light, multiple Voluntary Net-Zero Alliances for Financial Institutions (VNZAFIs) have been founded, directing capital flows from financial institutions towards climate action. Nonetheless, the contributions of VNZAFIs to the Paris Climate Goals can be put into question. This study determines the effectiveness of VNZAFIs in aligning the climate action plans of their members with the Paris Climate Goals. Through the development and application of a scoring framework, the climate alignment of the current action plans of financial institutions that are allied to the Dutch VNZAFI Klimaatcommitment Financiële Sector will be determined. The main finding of
this case study is that currently, the climate action plans of financial institutions are not climate-aligned, contesting the effectiveness of VNZAFIs.}},
  author       = {{de Laat, Luka}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Finance for the Future– the Effectiveness of Voluntary Net-Zero Alliances for Financial Institution}},
  year         = {{2023}},
}