Governance, risk & compliance


The mortgage market faces an energy- effi cient revolution


Banks have long been pressured to boost the sustainability of their own investments – but what about those of their clients? Jim Banks talks to Luca Bertalot at the Energy Effi cient Mortgages Initiative; Therese Ruth of Hemma; and Craig Calder at Barclays, to understand how ‘energy-effi cient mortgages’ work, the challenges of getting customers to adopt them – and how a meaningful sustainability agenda must encompass all of a bank’s activities.


B


anks, like any other business, can no longer disregard their impact on the environment. Regulatory and corporate disclosure requirements, aimed at reducing greenhouse gas (GHG) emissions, are becoming stricter as the world commits to a net-zero carbon future. This is forcing companies to perform a detailed analysis of not only their own


environmental impact, but also that of their clients, investors and supply chain partners. Not that this is necessarily straightforward. Emissions, after all, are divided into three categories, each with their own specifications. ‘Scope 1’ emissions deal with direct GHG emissions from sources owned or controlled by a company, whereas ‘Scope 2’ focus on indirect GHG emissions from the


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Future Banking / www.nsbanking.com


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