New Financial Alliance for Net Zero Emissions Launches

The Glasgow Financial Alliance for Net Zero (GFANZ), chaired by Mark Carney, UN Special Envoy on Climate Action and Finance, brings together over 160 firms (together responsible for assets in excess of $70 trillion1) from the leading net zero initiatives across the financial system to accelerate the transition to net-zero emissions by 2050 at the latest-

• All GFANZ member alliances must be accredited by the UN Race to Zero campaign. They must use science-based guidelines to reach net-zero emissions, cover all emission scopes, include 2030 interim target setting, and commit to transparent reporting and accounting in line with the UN Race to Zero criteria.

• 43 banks from 23 countries (with assets of $28.5 trillion) form the Net-Zero Banking Alliance (NZBA) today - which joins GFANZ - with its members committing to align operational and attributable emissions from their portfolios with pathways to net-zero by 2050 or sooner.

Source: https://unfccc.int/news/new-financial-alliance-for-net-zero-emissions-launches