ShareAction
Impact Sector
Economy & Finance
Type of Strategy
Innovate
Project Location
Europe
Entry Funding
In a nutshell
ShareAction works to create change in and through the financial system. New capital market guidelines, produced by Partnership for Carbon Accounting Financials (PCAF), are critical to setting a binding standard for banks worldwide. A growing number of banks around the world are signing up, embracing transparency, and working to meet best practice. But the new guidelines are under threat from banks’ lobbying. By harnessing their extensive networks to build a potent counter-campaign, ShareAction will work to protect and strengthen the integrity of the guidelines – and help decrease banks’ dependence on fossil fuels.
Climate Problem
Our banks invest the money we deposit, and the financing decisions they make today influence the world we live in tomorrow. For that reason, the financial system is fundamental to tackling climate change. Without reforming it, other measures to combat the crisis will only have limited impact.
It has been made clear that reaching ‘net zero’ means no new oil and gas fields. Sadly, European banks are some of the biggest culprits in financing fossil fuel projects – even though they’re risky, damaging and urgently need to be phased out. Since 2016, European banks have provided over $400B to the top 50 companies expanding oil and gas production, financing most of that through capital markets.
To reach a liveable future under 2°C global warming, our financial system must phase out fossil investments. This means holding banks accountable by using strategies that hit home. For example, ShareAction works with investors to ensure European banks begin following best practice. If they don’t, ShareAction helps investors to raise their voice at impactful moments – like at annual general meetings (AGMs), where shareholders (re-)evaluate the worth of their investment; or through filing shareholder resolutions.
Project Solution
The global financial system requires a shift away from financing companies that drive carbon emissions towards financing companies that reduce them. ShareAction’s work accelerates that shift. They publish in-depth research to inform investors’ engagements with banks on climate change, spotlight important issues, and lead best practice in the European banking sector.
This project supports the Partnership for Carbon Accounting Financials (PCAF) in their critical work, which is under threat by banks’ heavy lobbying. By helping banks to assess and disclose greenhouse gas emissions caused by their financial activities, PCAF’s guidelines set the global standard for financial decarbonisation.
With a growing number of banks following their guidelines, PCAF’s work creates real impact. The banks relying on fossil fuels fear the outcome. ShareAction will fight to ensure PCAF can resist pressure to dilute their guidelines, through strategic counter-lobbying. Their committed networks will amplify the message, and they’ll bring in further NGOs with shared goals. Already making headlines in tier-one publications, ShareAction will make use of their established and expanding media presence.
Donate now
"With only a few years left to prevent the worst impacts of climate change, it’s vital that banks ensure their funding accelerates, not hinders, the transition to net zero."
- Operational since 2005
- Team of 67 employees
- Headquarters in London, UK
About the organisation
ShareAction’s mission is to drive change at the heart of the financial system, and to unleash the positive potential of ethical investing. They use their expertise, experience, research and networks to set the highest standards of responsible investment. In doing so, they lay the groundwork necessary for these standards to be adopted worldwide.
How your donation helps
ShareAction will lobby to maintain the rigorous and effective capital market guidelines published by PCAF. These are the target of significant lobbying by banks, and having your support will help provide a counterbalance. ShareAction is well-placed to use their extensive network and capacity to support other NGOs in understanding the PCAF guidelines, and campaigning effectively for their uptake. With your support, we can build a world where the financial system serves our planet and its people.
Banks have actionable roadmaps to net-zero by 2050. When ShareAction published their first banking survey in 2017, not one EU bank had committed to net-zero – and now, they all have.
Policymakers revise legislation, so that banks and financial institutions understand their role, and the responsibilities that come with it. Environmentally destructive business practices will no longer be incentivised.
PCAF’s capital markets guidelines resist banks’ intensive lobbying, and are strengthened in their work setting the standard for financial institutions’ decarbonisation around the world .
Why we chose the project
"Since its founding in 2005, ShareAction has become one of the most influential organisations driving the financial system to higher standards for responsible investment. Banks’ dependence on fossil fuels is shaping our climate in a very real way; and funding this project could be one of your best investments so far."
Daniel Kruse
Hub Project Lead, Active Philanthropy
All our projects are:
aiming for systemic solutions in due time
having a track record in achieving similar goals
addressing co-benefits such as health or justice
endorsed by renowned climate funders
vetted by our rigorous due diligence process
monitored by us and reporting back to donors
Milestones
Meet the makers
Choose your funding
Your donation to ShareAction will innovate the sector of Economy & Finance
Seed
KEY SUPPORTER
Grow
PROJECT PATRON
Flourish
CLIMATE CHAMPION
Receive bi-annual reports on how your funded project is progressing
Access to exclusive networks or new research, tailored to your funding choice
Meet the people behind the project, ask your questions, and build connection (online)
Book an exchange with our Active team to discuss latest trends in climate funding (online)
Meet the project team in person to see firsthand how your donation made a difference
Meet with other donors we've carefully selected to match your needs and interests
Support our work
Active Philanthropy runs this platform and operates as an independent non-profit. For you, we find, vet and promote the climate solutions presented here. Please support us with a share of your donation!
Contact details
Summary
Please check all your information again and confirm your choice with the button below.
Your donor level
Seed
KEY SUPPORTER
Grow
PROJECT PATRON
Flourish
CLIMATE CHAMPION
Receive bi-annual reports on how your funded project is progressing
Access to exclusive networks or new research, tailored to your funding choice
Meet the people behind the project, ask your questions, and build connection (online)
Book an exchange with our Active team to discuss latest trends in climate funding (online)
Meet the project team in person to see firsthand how your donation made a difference
Meet with other donors we've carefully selected to match your needs and interests
Your donation
ShareAction
Active Philanthropy
I confirm that all information is correct and would like to make a binding donation. All details and options for transaction will be sent to your email immediately. After completion you will receive a donation receipt in accordance with German law.
Thank you for reaching out!
We will respond as soon as possible.
As a non-profit organisation, Active Philanthropy is non-partisan and independent from governments, financial institutions and NGOs. We are funded by donations and grants from individuals and non-state organisations as well as service fees.
Active Philanthropy gGmbH
Caroline-von-Humboldt-Weg 8
10117 Berlin