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Banks have used financial innovation as a climate risk management tool by providing funding to firms that want to implement green and sustainable projects. What do these projects aim to achieve? I. Green projects target environmental outcomes such as reductions in carbon emissions II. Sustainable projects target social outcomes such as affordable housing III. Sustainable projects target a combination of environmental and social outcomes.

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Banks have used financial innovation as a climate risk management tool by providing funding to firms that want to implement green and sustainable projects. What do these projects aim to achieve? I. Green projects target environmental outcomes such as reductions in carbon emissions II. Sustainable projects target social outcomes such as affordable housing III. Sustainable projects target a combination of environmental and social outcomes

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