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Insights

RMI’s Metrics and Mechanisms to Finance a Managed Coal Phaseout

January 2023

RMI’s Center for Climate-Aligned Finance has created two working papers for private FI involvement financing the managed phaseout of coal power. These papers were prepared at the request of the Glasgow Financial Alliance for Net Zero (GFANZ) and lay out guidance on metrics and targets and financial mechanisms.

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Mark Carney’s “The Unbearable Lightness of Beings” Speech at­­ COP15 Finance and Biodiversity Day­

December 2022

GFANZ Co-Chair Mark Carney delivers a keynote at COP15 Finance and Biodiversity Day in Montreal, on December 13, 2022, discussing how our actions are changing our Earth’s climate and destroying its biodiversity.

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Building the commitments, markets, and tools to finance the global net zero transition

November 2022

GFANZ Co-Chair Mark Carney explains how GFANZ is promoting climate ambition, action, and accountability in the financial sector for COP27 and beyond during COP27 Finance Day.


South Africa’s Just Energy Transition Investment Plan

November 2022

GFANZ is highly supportive of the Just Energy Transition Investment Plan (JET IP) issued by the South African government to support delivery on its updated Nationally Determined Contribution. Under the strong leadership and commitment of the South African government, the JET IP sets out an ambitious but credible approach to a Just Energy Transition in South Africa, with a phase-down of coal power and ramp up of renewable energy, and investment in the net-zero aligned jobs and industries of the future.

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Mark Carney’s ‘Climate Finance in a Polycrisis Era’ Opening Keynote at COP27 Finance Day

November 2022

GFANZ Co-Chair Mark Carney delivers the opening keynote at COP27 Finance Day, discussing how private sector finance will be essential to deliver the trillions of dollars needed to limit global warming to 1.5 degrees. Read the speech below.

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GFANZ Private Finance Working Group for NWFE: Statement of Support

November 2022

In this Statement of Support, the members of the Glasgow Finance Alliance for Net Zero (GFANZ) Private Finance Working Group for Egypt’s Nexus for Water, Food & Energy (NWFE) express their strong support for the Government of Egypt’s (GoE’s) ambitious plan for energy transition via NWFE. This plan, prepared under the umbrella of the 2050 National Climate Change Strategy (NCCS) and Nationally Determined Contribution (NDC), seeks to achieve inclusive and sustainable growth, a low-carbon development and developing resilience and adaptability to climate change.

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Driving Change through Ambition, Action and Accountability

October 2022

Read Mark Carney’s recent speech at The Inaugural Sir Roger Gifford Lecture at Mansion House on October 24, 2022. In this speech, Mark Carney commemorates Sir Roger Gifford, a luminary in climate finance who combined the best in thought leadership with the most determined action.

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Mark Carney’s Keynote Address at Achieving a global, 1.5-aligned energy transition

October 2022

Read Mark Carney’s opening keynote from the Achieving a global, 1.5-aligned energy transition event with BloombergNEF, hosted in London on October 6, 2022. The event, hosted by GFANZ and BloombergNEF, brought together a select group of industry experts across energy, finance, civil society, and government to discuss the role of the energy sector on the path to net zero emissions by 2050. The goal being to build consensus on the actions needed in the energy sector to deliver a global, 1.5-aligned energy transition. The session featured keynote speeches from UN Special Envoy and co-chair of GFANZ Mark Carney and the IEA’s Chief Energy Economist Tim Gould.

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Statement on Deforestation Financing from the Co-Chairs and Vice Chair of GFANZ

September 2022

GFANZ Co-Chairs Michael R. Bloomberg, Mark Carney, and Vice Chair Mary Schapiro provide a statement on deforestation policies as integral to financial institution transition planning.

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Statement on “No New Coal” from Michael R. Bloomberg, Mark Carney, and Mary Schapiro

August 2022

GFANZ Co-Chairs Michael R. Bloomberg, Mark Carney, and Vice Chair Mary Schapiro provide a statement on the ending of all financing activities for new coal.

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­GFANZ statement on Country Platforms

July 2022

In this Private Sector Statement, GFANZ pledged its support and released recommendations for the implementation of major energy transition Country Platforms for Emerging Markets and Developing Economies (EM&DEs).

For the full list of recommendations and to learn more, read the draft GFANZ Private Sector Statement on Country Platforms below.

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Private sector statement

Mark Carney’s ‘Financing the Net Zero Revolution’ Keynote Address at Net Zero Delivery Summit

May 2022

Read Mark Carney’s keynote address from the Net Zero Delivery Summit in London, hosted on May 11th and 12th, 2022. This is an international summit, delivered at the halfway milestone between COP26 in Glasgow and COP27 in Sharm El-Sheikh, focusing on net zero delivery and the progress of key priorities for finance agreed at COP26 in Glasgow.

Read More | View Presentation | Watch Keynote Address


Mary Schapiro’s Remarks for Net Zero Delivery Summit

May 2022

Read Mary Schapiro’s remarks from the Net Zero Delivery Summit on ‘From Commitment to Action: The Role of Transition Plans in Achieving a Net Zero Economy.’

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Mark Carney’s ‘Climate Policy is Macro Policy’ Volcker Memorial Lecture at NABE 2022

March 2022

Read Mark Carney’s speech from the NABE Policy Conference, the largest annual public event in Washington to focus solely on economic policy, tackling policy issues through the pragmatic lens of business leaders and economists – with 2022’s theme arranged around “Policy Options for Sustainable and Inclusive Growth.”

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Chair’s Summary – COP26 Climate Scenario and Pathways Roundtable

November 2021

Read Mark Carney’s discussion summary from a roundtable with the leading scenario and pathway developers to focus on enhancing the application of climate scenario analysis in the financial sector and alignment with the use of pathways for net zero targets – key objectives of the COP26 Private Finance Strategy.

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Mark Carney’s Finance Day Speeches at COP26

November 2021

GFANZ Co-Chair Mark Carney lays out his vision for the role of private finance in transitioning the global economy to net zero. Read both speeches below.

Financing Our Future  |  A Financial System for Net Zero


GFANZ Progress Report

November 2021

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.

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Mobilisation Statement of Support

November 2021

The Mobilisation Statement of Support describes the financial sector’s role in ensuring that sufficient levels of capital flow to emerging markets and developing economies to finance the transition to net zero.

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Mobilisation Statement of Support

Country Platforms Action Plan

November 2021

Bridging the financing gap in EM&DCs requires a radical change to the international financial architecture, through new country platforms which deploy blended finance at scale, leveraging private finance at significant multiples and connecting standalone private finance with NDCs. Mark Carney sets out his action plan for taking forward work on country platforms at an international level.

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Call to Action

October 2021

GFANZ’s Call to Action recognizes that 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.

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GFANZ Call to Action Report

COP26 Call for Climate Commitments

October 2021

A “Call for Commitments” from the COP26 Presidency, the COP26 Private Finance Hub and the High Level Climate Action Champions asking for private financial institutions to announce new ambitious actions at COP26.

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Calling for a High Ambition Path to Net-Zero

July 2021

Statement by Mark Carney, (UN Special Envoy for Climate Action and Finance), Günther Thallinger, (Chair, UN-convened Net Zero Asset Owner Alliance), Bill Winters (Group CEO, Standard Chartered), Tim Adams (President and CEO, Institute of International Finance), Annette Nazareth (Senior Counsel at Davis Polk and former Commissioner of the U.S. SEC), and Lord Nicholas Stern (Chair of the Grantham Research Institute on Climate Change, LSE) on Scaling Voluntary Carbon Markets.

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GFANZ launch

April 2021

GFANZ’s Launch Document detailing the original goals and structure of the organization when it was launched in April 2021.

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