Glasgow Financial Alliance for Net Zero
Insights
Building the commitments, markets, and tools to finance the global net zero transition
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
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.
Mark Carney’s ‘Climate Finance in a Polycrisis Era’ Opening Keynote at COP27 Finance Day
Former 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.
GFANZ Private Finance Working Group for NWFE: Statement of Support
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.
Driving Change through Ambition, Action and Accountability
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.
Mark Carney’s Keynote Address at Achieving a global, 1.5-aligned energy transition
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 former co-chair of GFANZ Mark Carney and the IEA’s Chief Energy Economist Tim Gould.
Statement on Deforestation Financing from the Co-Chairs and Vice Chair of GFANZ
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.
GFANZ statement on Country Platforms
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.
Mobilisation Statement of Support
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.
Country Platforms Action Plan
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.