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
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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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