Our members
Shaping the future
Our 550+ members are major financial institutions from more than 50 countries that belong to sector-specific groups aligned with the UN-backed Race to Zero. These firms have individually committed to meeting the Race to Zero’s strict criteria, pledging to transition the emissions of their financed portfolios to net zero by 2050, develop net-zero transition strategies, set interim targets, and report progress annually.
How member firms are driving change:
Raising ambition
Firms demonstrate net-zero ambition, action, and impact to the market, their customers, and policymakers while amplifying financial industry advocacy for decarbonizing the global financial system.
Collaborating across sectors
Firms collaborate across different financial sectors to address common challenges at scale, develop new tools and solutions, and share best practices.
Impacting policy
Firms engage with governments and climate experts to help shape the structural reforms needed to unlock more private finance.
Member commitments
Financial institutions become members by joining one of seven net-zero sector-specific alliances.
Each sector-specific alliance is anchored in the Race to Zero campaign, which mobilizes actors outside governments to take rigorous and immediate action to set interim targets and credibly reach net-zero carbon emissions by 2050 at the latest. Firms agree to meet both Race to Zero and other net-zero commitment criteria decided by their sector-specific alliance and aligned with the sector’s business model and levers of influence.
GFANZ therefore indirectly requires that Race to Zero criteria are met. In turn, GFANZ develops the tools and frameworks that will make this possible.
All members commit to the following UN Race to Zero criteria through their sector-specific alliances:
- Using science-based guidelines to reach net-zero emissions across all emissions scopes by 2050
- Setting 2030 interim targets that represent a fair share of the 50% decarbonization required by the end of the decade
- Setting and executing on a net-zero transition plan
- Transparent reporting and accounting on progress against those targets
- Adhering to strict restrictions on the use of offsets
Sector-specific alliances
Seven sector-specific alliances drive progress at the grassroots level to raise the ambition on net-zero commitments, increase engagement, and support their members’ acceleration of their alignment journeys. (Organizations are listed in order of founding date.)