To accelerate these and other efforts, GFANZ launched its APAC Network in June 2022 to support engagement with financial institutions and policymakers across the APAC region, incorporating feedback and ensuring its work on net zero is inclusive and applicable to all. The network will enable mutual knowledge-sharing and open dialogue on the opportunities and challenges of net zero, to ensure a truly global green transition. To reinforce the global work and outputs of GFANZ, the APAC Network will help ensure the perspectives and expertise of firms and actors across the APAC region are reflected as well as look into adapting GFANZ’s global research and efforts to meet APAC’s unique and diverse needs.

The GFANZ Asia Pacific Network launched a regional workstream to develop guidance for financial institutions on how they can facilitate the managed phase-out of coal power generation in the Asia Pacific. The workstream will help to address the challenges­ involved in responsibly decommissioning coal-fired generators in coal plants in Asia by developing an approach that incorporates transition credibility, financial viability, and socio-economic inclusivity. The guidance will be released in 2023.