Deloitte Insights

Episode 31: Banking and the Race to Net Zero

Regulated Radio podcasts

COP26 galvanised and accelerated global focus on achieving net zero carbon emissions. Pressure is mounting on governments, businesses, and industry alliances to make net zero pledges. So, what does it all mean? How are plans to reach net zero being implemented within the banking sector? How will those within financial firms see their roles change in response to pledges and targets made by their firm? In this episode of Regulated Radio, Scott Martin is joined by Damian Hales and Rutang Thanawalla to answer these questions and much more.

Key questions:

  • What does ‘net zero’ mean, and what have banks actually committed to?
  • We predict that 2022 will be the year net zero pledges are turned into credible plans. Do boards have a sense of urgency on this?
  • What steps should banks be taking as they execute their net zero transition plans?
  • What are financed emissions, and how do banks measure them?
  • Net zero is unlikely to remain the sole responsibility of corporate strategy and PR teams, instead involving everyone in the bank. How will staff see their roles transform?
  • The financial services industry has a key role to play in mobilising green finance to support the transition. What opportunities does this provide for firms?


Damian Hales
UK Credit Risk Transformation

Damian is a Partner within the firm’s Financial Risk Measurement team. He has over 23 years of experience in the financial sector and specialises in Credit Risk Management across the full credit lifecycle (from pre-approval and prospecting, to collections and re-structuring) covering retail, commercial, corporate and asset backed lending. Damian also leads Deloitte’s Credit Risk Transformation offerings.

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Rutang Thanawalla
Risk Advisory

Rutang is a Director in Deloitte UK's Financial Services Risk Advisory group. He leads on Enterprise-wide Risk Management engagements, especially Stress Testing, drawing on his experience in banking, insurance, a global credit rating agency and the energy sector and recently on climate-related topics.

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Scott Martin
Senior Manager
EMEA Centre for Regulatory Strategy

Scott is a Senior Manager in the Centre for Regulatory Strategy advising on international banking regulation, with a particular focus on bank capital, strategy, cyber risk and public policy-making processes.

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