Banks Propose Disclosing Just 33% of Capital Markets Emissions

A majority of investment bankers tasked with setting the first industry standards for calculating the carbon footprints of capital-markets activities have endorsed a compromise deal that would see banks report only one third of emissions related to stock and bond underwriting.

More than half of the eight-member working group chaired by Barclays Plc and Morgan Stanley voted for disclosing just 33% of so-called facilitated emissions, according to a person familiar with the process who asked not to be named discussing non-public information. Two members of the group, which was assembled in early 2021 by the Partnership for Carbon Accounting Financials, voted for 100%, the person said.