BAFT — ABA’s global transaction banking subsidiary — today released a new white paper to provide guidance on transaction banking sustainable finance products currently being offered to both corporate and financial institution clients.
“Transaction Banking Sustainable Finance Product and Reporting Matrix” is intended to capture, consolidate and display in a simplified, readable format the industry best practice for labeling sustainable finance transaction banking products. Similarly, it highlights the types of reporting necessary for each type of environmental, social, and governance-labeled product.
“The transaction banking industry needs more refined standards tailored to our specific products,” said Andy Price, VP for international policy, BAFT. “Our hope is that this matrix will serve as a starting point for framework development and ultimately, improve the design of sustainable finance transaction banking products.”
The white paper and reporting matrix were completed with the help of BAFT’s working group on sustainable finance, as well as several industry professionals.
