GFANZ $130trn net-zero pledge labelled as 'hot air'

The Glasgow Financial Alliance for Net Zero released a progress report last week

Lauren Mason
clock • 2 min read
Share Action, Reclaim Finance and Make My Money Matter have questioned the pledge

Share Action, Reclaim Finance and Make My Money Matter have questioned the pledge

The Glasgow Financial Alliance for Net Zero’s (GFANZ) pledge to achieve net zero by 2050 is a “hot air commitment”, according to some industry experts, who warn that “now is the time for action, not words”.

Last Wednesday (3 November), it was announced the Mark Carney-led cohort of financial firms had committed $130trn (£95.8trn) of capital to reach net zero emission targets by 2050, and can deliver $...

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