Launched today UN-convened Net-Zero Banking Alliance
To deliver the Paris Agreement and achieve global net zero the whole financial system needs to transition its activities by 2050 at the latest. Mark Carney, the UN Special Envoy for Climate Action and Finance – in partnership with the UK COP26 Presidency and the UN Race to Zero campaign – are launching a coordinating alliance that brings together existing and new net zero finance initiatives into one sector-wide strategic forum: The Glasgow Financial Alliance for Net Zero (GFANZ). At this ‘US Climate Action Week’ event on the 21st of April, political and finance leaders discussed how this new alliance will act as the global net zero strategic coordination mechanism for the whole financial sector. Ahead of the COP26 UN climate summit in Glasgow, its goal is to broaden, deepen and raise the ambition of the financial sector to achieve the Paris Agreement. UK Prime Minister, Boris Johnson, said: “Uniting the world’s banks and financial institutions behind the global transition to net...