Ceres welcomed the launch today of the Glasgow Financial Alliance for Net Zero (GFANZ) and the Net Zero Banking Alliance, which will work with banks to accelerate the transition of the finance sector and the global economy to net zero emissions.
Ceres CEO and President Mindy Lubber said:
“As a vital element of GFANZ, the Net Zero Banking Alliance recognizes the pivotal role of banks in supporting the global transition of the real economy to net-zero emissions and will help mobilize the trillions of dollars necessary to build a global zero carbon economy and deliver on the goals of the Paris Agreement ahead of COP26. The entire finance sector must throw its weight behind driving systemic change to address the climate crisis. Through the Net Zero Banking Alliance, GFANZ will support global banks in aligning their commitments with the latest science, and open up new opportunities for collaboration with other initiatives aimed at building a stronger global economy centered around net-zero.
We appreciate the work of Mark Carney, the UNFCCC Climate Champions (Nigel Topping and Gonzalo Munoz) and all GFANZ partners in this work relating to all actors in the financial system in stepping-up to achieve the goals of the Paris Agreement.
This impressive effort will build on decades of advocacy from Ceres and our ongoing collaborative work in building climate leadership in the financial sector. We look forward to working together to drive greater ambition with this new effort, along with other investor collaborations, all of which have been co-founded by Ceres, including The Investor Agenda, the Paris Aligned Investment Initiative and the Net Zero Asset Managers initiative. Together, we will accelerate a transition to a more just and sustainable net-zero economy.”
Ceres is a nonprofit organization working with the most influential capital market leaders to solve the world’s greatest sustainability challenges. Through our powerful networks and global collaborations of investors, companies and nonprofits, we drive action and inspire equitable market-based and policy solutions throughout the economy to build a just and sustainable future. For more information, visit ceres.org and follow @CeresNews.