The financial sector has invested $4.6 trillion into the fossil fuel industry since the Paris Agreement. However, this figure does not account for the full scope of emissions related to financial activities, particularly those from financed emissions, known as Scope 3 emissions. When these are included, the financial industry's impact on global greenhouse gas (GHG) emissions is significantly higher, highlighting the critical need for comprehensive carbon accounting and reduction strategies.

Yesterday, The U.S. Securities and Exchange Commission (SEC) launched their proposal of a new set of rules to enhance and standardize climate-related disclosures for investors.