The adoption of SBTs can help financial institutions augment their resilience and competitiveness in the face of extreme weather events and other climate-related risks. By becoming change makers rather than change takers, financial institutions can effectively anticipate climate policy and regulatory shifts. Clients are increasingly demanding climate actions by their financial institutions, and SBTs help to provide transparent credibility. Finally, SBTs help direct financial institution innovation toward potentially higher-margin products that support emissions reductions in the real economy.