Archive

Nordea warns on gap between portfolio emissions reduction and 'real world impact'

There is a widening disconnect between emissions reductions in investors' portfolios and the decarbonisation of the real economy, the head of sustainability at Nordea Life & Pensions has warned.

GFANZ publishes net-zero transition plan guidance

The Mark Carney-backed Glasgow Financial Alliance for Net Zero (GFANZ) has published voluntary guidance on net-zero transition plans (NZTPs) for achieving net-zero by 2050 focused on Scope 3 emissions.

GFANZ drops requirement to align with UN Race to Zero campaign

The Glasgow Financial Alliance for Net Zero (GFANZ) has scrapped its requirement for members to align with a campaign requiring a fossil fuel phase-out.

US banks 'have not indicated' intention to quit GFANZ, Carney says

Mark Carney has denied that several large US banks threatened to quit the climate finance group he co-chairs, adding that the CEOs of the banks "have not indicated to me any intention to do so".

Carney: Net Zero Data Public Utility 'essential' to accountability

The development of free platform Net Zero Data Public Utility will be "essential" for developing the accountability and transparency of financial institutions, Mark Carney has said.

UN Race to Zero readies 'compliance mechanism'

UN-backed climate campaign Race to Zero (RTZ) has confirmed further information on its 'compliance mechanism' will be published in September, with a major partner welcoming plans to remove members who fail to meet its strengthened criteria.

GFANZ-backed agriculture decarbonisation path launched

Financial institutions will for the first time have access to pathways to net zero for the agriculture, forestry and chemicals sectors, the author of report supported by the Glasgow Financial Alliance for Net Zero (GFANZ) has said.

GFANZ calls for portfolio alignment feedback

GFANZ issues transition plan recommendations & 'ambition' tracker

The Glasgow Financial Alliance for Net Zero (GFANZ) has issued 10 recommendations for financial institutions to adopt in their net-zero transition plans, including metrics to track portfolio 'ambition', sector-specific pathways and pan-sector strategies to avoid 'paper decarbonisation'.

Carney: Some fossil fuel investment justified

The transition to a net-zero carbon economy requires "nothing short of a revolution", although some limited investment in fossil fuels is justified in the short term, Mark Carney has said.