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Submission: On March 23 via api from US — Scanned from DE
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Skip to main content GLASGOW FINANCIAL ALLIANCE FOR NET ZERO * About * Membership * Resources * News * PRESS RELEASES * MEDIA COVERAGE * Roadmaps ABOUT US The Glasgow Financial Alliance for Net Zero (GFANZ) was launched in April 2021 by Mark Carney, UN Special Envoy for Climate Action and Finance and UK Prime Minister Johnson’s Finance Adviser for COP26, and the COP26 Private Finance Hub in partnership with the UNFCCC Climate Action Champions, the Race to Zero campaign and the COP26 Presidency. Bringing together existing and new net-zero finance initiatives in one sector-wide coalition, GFANZ provides a forum for leading financial institutions to accelerate the transition to a net-zero global economy. Our members currently include over 450 financial firms across 45 countries responsible for assets of over $130 trillion. We’re focused on broadening, deepening and raising net-zero ambitions across the financial system and demonstrating firms’ collective commitments to supporting companies and countries to achieve the goals of the Paris Agreement. We also support collaboration on steps firms need to take to align with a net-zero future. GFANZ MEMBERSHIP IS PREDICATED ON SCIENCE-BASED COMMITMENTS TO NET ZERO Race to Zero is the UN-backed global campaign rallying non-state actors – including companies, cities, regions, financial and educational institutions – to take rigorous and immediate action to halve global GHG emissions by 2030. All members are committed to the same overarching goal: reducing GHG emissions across all scopes swiftly and fairly in line with the Paris Agreement, with transparent action plans and robust near-term targets. All actors must meet stringent criteria. Access to GFANZ is anchored in the Race to Zero campaign to ensure credibility and consistency. This means GFANZ firms’ net-zero commitments must use science-based guidelines to reach net-zero emissions by 2050, cover all emission scopes, include 2030 interim target settings and commit to transparent reporting and accounting in line with Race to Zero criteria. GFANZ’S WORKSTREAMS ARE ABOUT TURNING COMMITMENT INTO ACTION GFANZ is focused on moving the needle on 7 key areas critical to the net zero transition; these include: * Sectoral pathways: catalyzing alignment between financial institutions and major global industries on sector-specific pathways to reach net-zero emissions * Real economy transition plans: accelerating decarbonization in the real economy by describing financial sector expectations of transition plans from the companies the sector engages with and finances * Financial institution transition plans: driving convergence around sector-wide best practices for financial institutions in designing and implementing credible net-zero transition plans * Portfolio alignment measurement: supporting the development and effective implementation of portfolio alignment metrics for financial institutions and driving convergence in the way portfolio alignment is measured and disclosed * Mobilizing private capital: supporting the mobilization of private capital to emerging markets and developing economies through private sector investments and public-private collaboration * Policy: advocating for the public policy needed to accelerate investment in net-zero aligned activities and organizations * Building commitment: broadening the nature and number of financial firms that are credibly working towards net-zero GFANZ PRINCIPALS GROUP GFANZ is led by a Principals Group comprising leads from finance industry net-zero coalitions that join Race to Zero and GFANZ. The Principals Group sets the strategic direction and priorities of GFANZ and monitors progress against them. They have launched an ambitious program of technical work to generate the commitment, engagement, investment and net-zero alignment required to drive forward the global economy’s transition to net zero. LEADERSHIP Mark Carney Co-Chair, GFANZ Mike Bloomberg Co-Chair, GFANZ Mary Schapiro Vice Chair, GFANZ Nigel Topping High-Level Climate Action Champion Mark Carney Co-Chair, GFANZ Mike Bloomberg Co-Chair, GFANZ Mary Schapiro Vice Chair, GFANZ Nigel Topping High-Level Climate Action Champion PRINCIPALS Oliver Bäte Chief Executive Officer, Allianz Amanda Blanc Group CEO, Aviva Thomas Buberl Chief Executive Officer, AXA Ana Botín Executive Chairman, Banco Santander, S.A. Juan Carlos Mora Uribe CEO, Bancolombia Brian Moynihan Chairman of the Board and Chief Executive Officer, Bank of America Larry Fink Chairman and Chief Executive Officer, BlackRock Jane Fraser Chief Executive Officer, Citi Seiji Inagaki President, Dai-ichi Life Insurance Nili Gilbert Board Member and Chair of Investment Committee, David Rockefeller Fund David Blood Senior Partner, Generation Investment Management Noel Quinn Group Chief Executive, HSBC Joshua Oigara CEO/Managing Director, KCB Group Michelle Scrimgeour Chief Executive Officer, Legal & General Investment Management David Schwimmer Chief Executive Officer, London Stock Exchange Group Shemara Wikramanayake Managing Director and Chief Executive Officer, Macquarie Alison Rose Chief Executive, NatWest Group Jon Johnsen CEO, PKA Loh Boon Chye Chief Executive Officer, Singapore Exchange Oliver Bäte Chief Executive Officer, Allianz Amanda Blanc Group CEO, Aviva Thomas Buberl Chief Executive Officer, AXA Ana Botín Executive Chairman, Banco Santander, S.A. Juan Carlos Mora Uribe CEO, Bancolombia Brian Moynihan Chairman of the Board and Chief Executive Officer, Bank of America Larry Fink Chairman and Chief Executive Officer, BlackRock Jane Fraser Chief Executive Officer, Citi Seiji Inagaki President, Dai-ichi Life Insurance Nili Gilbert Board Member and Chair of Investment Committee, David Rockefeller Fund David Blood Senior Partner, Generation Investment Management Noel Quinn Group Chief Executive, HSBC Joshua Oigara CEO/Managing Director, KCB Group Michelle Scrimgeour Chief Executive Officer, Legal & General Investment Management David Schwimmer Chief Executive Officer, London Stock Exchange Group Shemara Wikramanayake Managing Director and Chief Executive Officer, Macquarie Alison Rose Chief Executive, NatWest Group Jon Johnsen CEO, PKA Loh Boon Chye Chief Executive Officer, Singapore Exchange ADVISORY PANEL The GFANZ Advisory Panel comprises technical climate action groups, with a focus on financial sector expertise. Its role is to provide strategic and technical advice, support cross-system collaboration to join up efforts and minimize duplication and ultimately help GFANZ reflect, amplify and influence best practice in the most robust way that leverages existing expertise and momentum. The Advisory Panel includes representatives from the following organizations: 2 Degrees Investing Initiative Cambridge University Institute for Sustainability Leadership Carbon Tracker Initiative Center for Climate-Aligned Finance Climate Policy Initiative Climate Safe Lending Network E3G Global Optimism Instituto Clima e Sociedade International Institute of Green Finance PCAF Race to Zero’s Financial Sector Expert Group Transition Pathway Initiative SBTi (World Resources Institute) SOAS Centre for Sustainable Finance WWF ZeniZeni Sustainable Finance Glasgow Financial Alliance for Net Zero * About * Membership * * Contact * © 2022 Glasgow Financial Alliance for Net Zero. Privacy Policy | Terms of Use