On COP28 Finance Day, GFANZ unveiled its 2023 Progress Report, showing participation in the net-zero transition continues to build across the financial system and highlighting tangible momentum behind its work on transition planning, capital mobilization in emerging markets and developing economies (EMDEs), and climate transition-related data.

On December 4th at COP28 in Dubai, the COP28 Presidency hosted a High-Level Roundtable on Unlocking High-Integrity Carbon Markets. The event was an important moment in support of the development of an integrated, high-integrity and global carbon markets architecture.

The Net-Zero Data Public Utility (NZDPU) aims to address the limited availability and variable quality of climate data critical for the net-zero transition. We applaud the efforts of the NZDPU to build a proof of concept that demonstrates the feasibility of this complex undertaking and look forward to further development of functionality and coverage as outlined in the roadmap laid out in the CDSC’s 2022 recommendations.

Joint statement from UN Secretary-General’s Special Envoy on Climate Action and Finance and Co-Chair of the Glasgow Financial Alliance for Net Zero (GFANZ) Mark Carney, Brazil’s Minister of Finance Fernando Haddad, and BNDES President Aloizio Mercadante.

During the United Nations Latin America and Caribbean Climate Week, GFANZ announced the formation of its Latin America & Caribbean Network and the creation of a senior Advisory Board to drive net-zero progress in the region. 

The COP28 Presidency, the Glasgow Financial Alliance for Net-Zero (GFANZ), and the Voluntary Carbon Markets Integrity Initiative (VCMI) convened a high-level roundtable of businesses, financial institutions, and standard setters on 19 September 2023, with the goal to build up high-integrity demand in voluntary carbon markets (VCMs). The event also featured the Integrity Council for the Voluntary Carbon Market (ICVCM), with whom VCMI collaborates closely.

GFANZ Co-Chairs and Vice Chair welcome the release of the U.S. Treasury’s Principles for Net Zero Financing & Investment and salute Secretary Yellen’s outstanding leadership on climate.

The Glasgow Financial Alliance for Net Zero (GFANZ) Secretariat launched a consultation on its work to further refine the definitions of its transition finance strategies and support financial institutions to forecast the impact of these strategies on reducing emissions.

New partnership seeks to engage African financial institutions on climate transition planning and finance, and Dr. Timothy Afful-Koomson, Chief Climate Finance Officer of the AfDB Group, appointed as Director of the GFANZ Africa Network.

As an extension of GFANZ’s APAC Network, the Hong Kong Chapter will engage and build capacity with financial institutions in Greater China on net-zero efforts, transition planning and scaling transition finance, working with existing local sustainable finance initiatives to support further progress.