Ecofin Commits to Net Zero Emissions by 2050 as a Signatory of the Net Zero Asset Managers Initiative finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
Mark Carney to chair Glasgow Financial Alliance for Net-Zero ahead of COP26
A new initiative from the US and UK Governments, designed to unite the global financial sector on the net-zero transition, has launched, confirming Mark Carney as chair.
The first 160 member firms collectively represent $70trn of assets under management
Called the ‘Glasgow Financial Alliance for Net-Zero’ (GFAN), the initiative will bring together banks, asset manager, asset owners, insurers and other providers of financial services in a network designed to unify and strengthen climate ambitions across the sector. Organisers are hoping to bring together 160 firms in the first instance.
The formal launch of the GFAN will take place later today (21 April), on the eve of the US Government’s Earth Day climate summit.
The World s Largest Financial Leaders Have Committed To Net Zero Now What? forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
A coalition of major investors managing a combined $11tr of assets worldwide is calling on the banks to boost their 2050 climate goals by curtailing financing of activities that contribute to deforestation, land-use change, and fossil fuel expansion.
Aviva Investors, Legal & General Investment Management, Sarasin & Partners, and the Church Commissioners for England are among nearly three dozen investors which have today joined together in urging major banks to set enhanced net zero targets that include interim emission reduction goals, commitments to scale up green finance, and pledges to withdraw financing from recipients showing no evidence of transitioning towards a low carbon future.
Institutional investors urge banks to step up climate action Apr 20, 2021 By Funds Europe
Institutional investors have called on major banks to turn up the heat on climate issues and set enhanced net zero targets for 2050 or sooner.
Through the Institutional Investors Group on Climate Change (IIGCC), investors urged banks on Monday to align financing with net zero emissions, scale up green finance, and withdraw from projects that don’t align with Paris goals for a transition away from a carbon-dependent economy.
The 35 investors involved, representing a combined $11 trillion (€9.1 trillion) in assets under management, highlighted that in the years since the Paris Agreement, the world’s biggest 60 banks have provided $3.8 trillion of financing for fossil fuels – with 2020 levels higher than 2016, representing a large disparity between climate rhetoric and reality.