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 degrees 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.
Statement on “No New Coal” from Michael R. Bloomberg, Mark Carney, and Mary Schapiro
August 2022
GFANZ Co-Chairs Michael R. Bloomberg and Mark Carney and Vice Chair Mary Schapiro welcome the updated UN Race to Zero criteria, particularly ending all financing activities for new coal.
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