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Insurers are to get "the first global standard to measure and disclose insured greenhouse gas (GHG) emissions" as a result of an industry collaboration.

Bank of America (BoA) has joined the Partnership for Carbon Accounting Financials (PCAF), the third major US lender to join the initiative in the past week, as pressure builds on financial institutions to tackle the emissions of their lending and investment portfolios.

The Rocky Mountain Institute (RMI) has launched a research centre to help shape the role that the financial industry has in driving the transition to a low-carbon economy, with four major US banks collaborating on the project