Financial Firms Get Seal of Approval for Climate Plans

An organization that assesses the credibility of corporate climate-change targets gave its blessing to the emission-reduction plans of two banks and a private-equity firm. The endorsements apply to the companies themselves as well as their investment and lending activities, a first for the sector.

The Science Based Targets initiative said Thursday it endorsed the emissions targets of French bank La Banque Postale, South Korean bank KB Financial Group and Swedish private-equity firm EQT AB. As well as committing to slash emissions from their own operations, the companies set targets for their portfolios, which experts say have a greater environmental impact.


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