The industry-led, UN-convened Net-Zero Banking Alliance brings together 53 banks from 27 countries representing almost a quarter of global banking assets (over US$37 trillion), which are committed to aligning their lending and investment portfolios with net-zero emissions by 2050. Combining near-term action with accountability, this ambitious commitment sees banks setting an intermediate target for 2030 or sooner, using robust, science-based guidelines.

The Alliance will reinforce, accelerate and support the implementation of decarbonisation strategies, providing an internationally coherent framework and guidelines in which to operate, supported by peer-learning from pioneering banks. It recognises the vital role of banks in supporting the global transition of the real economy to net-zero emissions.

Launched on the 21st April 2021, with 43 founding banks, the Alliance is joining the UN Race to Zero and is the banking element of the Glasgow Financial Alliance for Net-Zero. The Alliance is convened by the UN Environment Programme Finance Initiative and was co-launched by the Prince of Wales’ Sustainable Markets Initiative Financial Services Taskforce.

About the Glasgow Financial Alliance for Net-Zero (GFANZ)
GFANZ is a strategic forum bringing together the leading net-zero initiatives across the financial sector, and is chaired by Mark Carney, UN Special Envoy on Climate Action and Finance. GFANZ is the place where the financial sector meets to accelerate the transition of finance and the global economy to net-zero emissions by 2050 at the latest. GFANZ includes the following alliances: UN-convened Net-Zero Banking Alliance |  UN-convened Net-Zero Asset Owner Alliance | Net Zero Asset Manager Initiative | UN-convened Net-Zero Insurance Alliance (coming soon)

 

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