Glasgow Financial Alliance for Net Zero
Bringing together the financial sector to accelerate the transition to a net-zero economy.
Achieving the objective of the Paris Agreement to limit global temperature increases to 1.5°C from pre-industrial levels requires a whole economy transition.
Every company, bank, insurer and investor will need to adjust their business models, develop credible plans for the transition to a low-carbon, climate resilient future and then implement those plans. Private finance can help fund private sector initiatives and turn billions committed to climate investment through public channels into trillions of total climate investment. But unlocking systemic change will require collaborative, ambitious commitments and near-term action across the entire financial system.
GFANZ is a global coalition of leading financial institutions committed to accelerating the decarbonization of the economy.
GFANZ announces new milestones at COP26
Amount of finance committed to net zero under UN campaign now at scale required for a successful transition, as GFANZ also announces Michael R. Bloomberg and Mary Schapiro will join as Co-Chair and Vice Chair, respectively, alongside current GFANZ leaders Mark Carney and Nigel Topping.
GFANZ progress report
GFANZ’s new report, The Glasgow Financial Alliance for Net Zero: Our progress and plan towards a net zero global economy, shares the history of GFANZ since its launch in April 2021 and the progress it has made across its seven workstreams in service of accelerating the financial sector’s transition to net zero.
Policy Call to Action
World’s Financial Leaders to the G20: More Action Needed Now On Climate
GFANZ’s Call to Action recognises the critical role financial services firms must play to support the transition to a green economy, which requires annual clean energy investment to more than triple by 2030 to around $4 trillion. However, if the world is to achieve an orderly transition to Net Zero – and so avoid the massive human, social, economic loss and financial instability associated with failing to meet the objectives of the Paris Agreement – more governments must follow through on the commitments of the Paris Agreement and ensure a Just Transition to a net zero global economy.
How to get involved
We encourage financial firms to demonstrate their credible commitment to achieving global net-zero goals, and to collaboratively drive this forward, by joining the Glasgow Financial Alliance for Net Zero and the Race to Zero.