Alliance for climate protection Green Finance Alliance
Together towards 1.5 degrees: The Green Finance Alliance is an initiative of the Ministry for Climate Action for future-oriented financial companies. Members of the Green Finance Alliance act as climate action pioneers and show that climate protection and sustainable business practices are compatible.
For a future-proof and climate-fit financial system, we need new perspectives and methods that focus on climate related topics. This implies integrating climate targets as well as concrete measures into existing and new processes. The goal of the Green Finance Alliance is to enable financial companies to steer their core business activities into a sustainable direction. This includes aligning portfolios with the 1.5 degree target as well as expanding green activities in the core business. The Green Finance Alliance defines five target dimensions covering the core business of its members:
- Aligning portfolios with the 1.5 degree target of the Paris Agreement.
- Creating greenhouse gas-neutral portfolios by 2050: Continuously reducing GHG emissions attributable to portfolio positions.
- Expanding green activities in the core business.
- Managing climate risks and encouraging resilience.
- Promoting climate governance and climate mainstreaming.
Shared path towards climate neutrality
As members of the Green Finance Alliance, ambitious companies from the Austrian financial sector voluntarily pledge to transition their investment and lending portfolios as well as their corporate insurance-related underwriting portfolio towards climate neutrality. The Membership in the Green Finance Alliance offers the opportunity to be among climate action pioneers. The ambitious list of binding criteria provides members a roadmap towards climate neutrality. In this way, the Green Finance Alliance supports Austria and the EU to meet their climate targets.
Learn more about the Green Finance Alliance: Frequently asked questions
Launch of the Green Finance Alliance
In the first submission phase, financial companies including banks, insurance companies, pension funds, and corporate provision funds applied for membership in the Green Finance Alliance. The applicants included both larger, international financial companies as well as smaller, regional players.
Brief description: Green Finance Alliance
The Green Finance Alliance is an initiative of the Ministry for Climate Action aimed at establishing a sustainable financial market in Austria. Members are Austrian financial companies that make a voluntary yet binding pledge to transition their core business towards climate neutrality by 2050.
Nine pioneers: Get to know the members of the Green Finance Alliance