Glasgow Financial Alliance for Net Zero

US plan to use carbon credit to fund energy transition in developed countries generates mixed response, amid fears initiative could undermine proposals for wider financial reforms

Expansion set to give investors access to more climate data for more than 56,000 equity and fixed income funds

Glasgow Financial Alliance for Net Zero stops short of proposing specific fossil fuel financing requirements or phase out timelines in new guidelines for members

Mark Carney-led, multi-trillion-dollar net zero finance initiative drops requirement for its members to join UN climate campaign

Australia's Cbus Super and Austria's Bundespensionskasse quit the Net Zero Asset Owner Alliance and the Paris Aligned Asset Owners initiative respectively, both citing resource and data reporting challenges

Campaigners claim new rules ‘throw down the gauntlet’ to the various net zero alliances in the finance sector

Leading campaign groups write to co-chairs Mark Carney and Michael Boomberg urging them to strengthen membership requirements for financial firms still investing in coal

The Glasgow Financial Alliance for Net Zero (GFANZ) unveils progress report claiming 450 financial firms across 45 countries now committed to net zero

Over 90 green groups demand stricter membership rules for a raft of corporate financial net zero groups ahead of COP26

Eighteen organisations spanning breadth of financial service industry form financial sector’s newest climate-focused coalition