Humanity is facing a triple planetary crisis of climate change, biodiversity loss and pollution, creating a complex web of challenges that must be addressed in a coordinated manner.
This paper serves as a vital primer for banks navigating the landscape of pollution-related challenges and opportunities. It highlights the economic and societal costs of pollution, emphasizing the concept of double materiality – how pollution impacts both society and the environment, as well as poses financial risks to companies and financial institutions.
It also outlines possible actions for banks under each of the six Principles for Responsible Banking (PRB). It emphasizes the importance of a sector-based approach, focusing on five high-impact sectors, mining, textiles, electronics, pharmaceuticals, and agriculture.