06 December 2023

GFANZ delivers on the year of the transition plan with continued growth and progress to close key gaps in the global financial system and ac

On COP28 Finance Day, the Glasgow Financial Alliance for Net Zero (GFANZ) unveiled its 2023 Progress Report, showing participation in the net-zero transition continues to build across the financial system and highlighting tangible momentum behind its work on transition planning, capital mobilization in emerging markets and developing economies (EMDEs), and climate transition-related data. This follows an in-person meeting of the GFANZ Principals Group – a body of 20 leaders across the global financial system co-chaired by Michael R. Bloomberg, UN Special Envoy on Climate Ambition and Solutions, and Mark Carney, UN Special Envoy on Climate Action and Finance  – to announce 2024 priorities. 

Financial sector commitments to net zero have continued to grow with membership rising over 20% in sector-specific alliances affiliated with GFANZ. Additionally, two new net-zero alliances, a third regional network, and two chapters launched in 2023. 

• GFANZ affiliated alliances now comprise over 675 financial institutions from 50 countries, with more than 100 financial institutions joining sector-specific alliances this year alone. 
• GFANZ welcomed the Venture Climate Alliance in April and celebrated the launch of the Net-Zero Export Credit Agencies Alliance (NZECA) at COP28. The NZECA, with UNEP FI as secretariat, seeks to support export credit agencies in their net-zero transition.

GFANZ