The financial sector is a key component for preventing the potentially irreversible negative effects of climate change. However, the scope of greenhouse gas emissions (GHG) for which banks take responsibility is often very limited considering the huge effects which their lending activities have on the economy. To examine if banks are taking the proper responsibility for their emissions, this thesis sets out to answer the following questions: On what grounds can it be justified that banks bear a moral responsibility for their indirect emissions? If banks are morally responsible for their indirect emissions, what are the obligations that follow from this? Are banks meeting their moral obligations? Is carbon offsetting a valid measure to compensate for emissions caused by banks? This paper analyzes the behavior of two conventional banks and three sustainable banks and compares it to a previously developed normative ethical standard.