Today we are publishing our analysis report on the climate-related disclosures (CRD) made by banks, building societies and licenced insurers in their second year of mandatory reporting.

Overall, analysed climate reporting entities generally improved the breadth of their disclosures.

There was a greater proportion of entities reported financed emissions - one of the most complex requirements for the sector to analyse, due to data availability and modelling assumptions.

At the same time, we observed little increase in target ambition, which we evaluated based on emissions reductions across scope 1, 2 and 3, net zero alignment, and specific targets to supply chain and to specific sectors.

Whether this reflects changing organisational priorities, greater caution around setting long-term commitments, or the continued maturation of emissions models remains an open question.

The regime settings are continuing to evolve, with potential alignment to international standards (see the XRB current consultation).

Our report explores these trends in detail, highlighting areas of improvement, persistent challenges and emerging good practice.

Mosaic can support you in your climate reporting journey, contact us to discuss.