New regional network seeks to unlock investment, support engagement with African financial institutions

GFANZ has developed a draft framework for financial institutions to catalyze action and specify concrete steps and holistic business strategy changes as part of the transition to a net-zero future.

GFANZ Co-Chairs Michael R. Bloomberg and Mark Carney and Vice Chair Mary Schapiro remark on the ending of all financing activities for new coal.

GFANZ has developed a draft framework for financial institutions to catalyze action and specify concrete steps and holistic business strategy changes as part of the transition to a net-zero future.

New Regional Network with Central Office in Singapore Will Support Expansion of Net Zero Finance in Asia-Pacific and Help Accelerate the Region’s Transition to a Net-Zero Economy.

Following a bi-lateral meeting at the Elysée Palace today, President Emmanuel Macron and Michael R. Bloomberg, UN Special Envoy for Climate Ambition and Solutions, announced a global effort to enhance transparency to monitor business climate actions and commitments in the global fight against climate change.

Today UN Special Envoy for Climate Ambition and Solutions and Global Ambassador for the UN’s Race to Zero Campaign Michael R. Bloomberg announced he will join Mark Carney as co-chair for the Glasgow Financial Alliance for Net Zero (GFANZ), a private sector-led initiative anchored in the UNFCCC’s Race to Zero framework. Mary Schapiro, former SEC Chairman and Head of the Secretariat for the Task Force on Climate-related Financial Disclosures (TCFD), will serve as the Vice Chair of the initiative and oversee its secretariat.

Today, through the Glasgow Financial Alliance for Net Zero (GFANZ), over $130 trillion of private capital is committed to transforming the economy for net zero.

The COP26 Presidency, Mark Carney’s COP26 Private Finance Hub and the High Level Climate Action Champions are calling for private financial institutions to announce new ambitious actions at COP26.

A technical report requested by the TCFD that sets out emerging best practice in building portfolio alignment metrics to make these more robust, transparent and consistent.