ISO/DIS 32212

Sustainable finance — Net zero transition planning for financial institutions

Scope

This document specifies requirements and recommendations and related guidance for strategic transition planning by financial institutions, designed to protect and enhance value by supporting institutions’ response and contribution to a global net zero and climate resilient economy. The requirements and recommendations are designed to enable financial institutions to develop and maintain transition planning objectives and targets that advance the temperature and resilience goals of the Paris Agreement[23], and establish robust policies and processes to integrate these into their financial activities.
This document is applicable to any financial institution, regardless of size, type and geographic location, with a particular focus on banking, insurance and investment institutions. Its provisions are to be applied in the context of the institution’s particular business model. Some considerations specific to particular institution types are included in guidance notes. Additional guidance on product attributes specific to different types of financial institution may be found in the Annex.
This document is applicable to all financial activities – including lending, insurance, asset owner investing, asset manager investing and capital market activities – that the institution determines it can either control or influence, using a life cycle perspective – e.g., those described in 8.2.2. It may also be applicable to relevant financial activities within real economy institutions and emerging financial institution types, many of which leverage digital technologies and can be subject to different or bespoke regulatory frameworks (e.g. decentralized finance (DeFi) platforms).
Claims of conformity to this document are not acceptable unless all its requirements are incorporated into an institution’s transition planning processes and fulfilled without exclusion.
NOTE 1    This document is intended for global application, recognising that some financial institutions, including those in some Emerging Market and Developing Economies (EMDEs), can face constraints in the local enabling regulatory environment and data availability. It therefore seeks to ensure flexibility and proportionality in application, as appropriate.
NOTE 2    Documents on asset management developed by ISO/TC 521, including ISO 55000[18], ISO 55001[19] and detailed guidance in ISO 55002[20], can be useful for financial institution asset management activity, particularly as it relates to alignment of asset management with business objectives, for example those related to transition planning.