GFANZ: Multi-trillion dollar financial group unveils voluntary net zero guidelines

Led by Mark Carney

The multi-trillion-dollar Glasgow Financial Alliance for Net Zero (GFANZ) has urged G20 governments to close the gap between their climate pledges and decarbonisation policies in order to catalyse increased levels of green investment worldwide, as it unveiled guidelines to help its members deliver net zero emission portfolios.

GFANZ, a UN-backed umbrella group of leading financial firms established ahead of last year's COP26 Climate Summit, said a seven-fold increase in current financial flows amounting to an additional $1trn per year by 2030 was required in clean energy investment in emerging and developing countries alone to reach net zero by 2050 worldwide. G20 governments as well as leading financial firms have critical roles to play to unlocking the trillions of dollars of investment needed to build a net zero economy over the next 30 years, but an overhaul of both company transition plans and government ...