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Last year, the influential body announced that investors could credibly support the climate transition by allocating their capital to solutions, climate-aligned companies and assets, or companies and assets with a serious commitment to transition. They could also invest in the timely phase-out of polluting assets, such as coal plants.
Now GFANZ wants to flesh out those four labels to create “common definitions of transition finance” and find a way to calculate the impact of such investments on global emissions.
“Creating consistent definitions that are applicable across markets and sectors will help to scale transition finance to ensure real-economy decarbonisation, help financial institutions independently identify their risk exposure and the investment opportunity ahead,” it said in a statement....
more at IPE