This report serves as a guide for banks and insurance companies on the role of banking and underwriting activities in promoting a just transition to low-carbon, climate-resilient economies. It details crucial elements, emerging practices and examples, helping banks and insurers to become enablers of a just and inclusive transition.Climate action must reach record levels to limit the average global temperature increase to 1.5 degrees in order to avert catastrophic consequences, and to adapt to the physical impacts of climate change. It entails a major transformation affecting all sectors, geographies and societies.Promoting a just transition is essential to achieve broad-based support for ambitious climate action and generate benefits both to the environment and the society, while carefully managing potential adverse social impacts from economic transformation. It requires coordinated action from all parties, tailored to the specific contexts of each region and sector, affected communities, businesses, workers, and vulnerable popula￾tions. Voices and perspectives of all relevant stakeholders need to be represented and considered.