Reported 4 days ago
The Glasgow Financial Alliance for Net Zero (GFANZ), the largest climate coalition for financial institutions, is adjusting its structure after key banks and asset managers withdrew from its initiatives. Moving forward, GFANZ will no longer require members to align with the Paris Agreement but will instead focus on involving any financial institution willing to promote energy transition financing. This change aims to mobilize private capital, especially from emerging economies, amidst growing political and regulatory challenges against climate-focused alliances.
Source: YAHOO