GFANZ co-chair Mark Carney and UK chancellor Rishi Sunak arrive at Cop26
Private capital committed to transition tops $130tn
Transition finance has hit levels needed to deliver net zero in 2050, Glasgow Financial Alliance for Net Zero tells Cop26
The amount of private capital committed to the transition has exceeded $130tn and reached the scale needed to deliver net-zero emissions by 2050, according to the Glasgow Financial Alliance for Net Zero (GFANZ), a global coalition of leading financial institutions. Transition capital has been committed by 450 firms across 45 countries, GFANZ says. “The architecture of the global financial system has been transformed to deliver net zero,” GFANZ co-chair Mark Carney told the Cop26 climate conference in Glasgow today. “We now have the essential plumbing in place to move climate change from the fringes to the forefront of finance so that every financial decision takes climate change into account
Also in this section
18 February 2025
Demand for CCS to abate new gas-fired plants is rising as datacentres seek low-carbon power, Frederik Majkut, SVP of industrial decarbonisation, tells Carbon Economist
11 February 2025
Rising prices have added to concerns over CBAM impact on the competitiveness of EU manufacturing
7 February 2025
Norwegian energy company slashes spending on low-carbon sectors as transition decelerates
30 January 2025
The UAE’s oil and gas company puts its faith in technologies including CCS and AI to deliver its emission-reduction goals
