From Mexico to China to Thailand: we are starting to speak at physical events, but most of them remain online.
From Mexico to China to Thailand: we are starting to speak at physical events, but most of them remain online.
It’s clear that the most important development from COP was the launch of the Glasgow Financial Alliance for Net-Zero (GFANZ), representing 450 organisations with some USD130 trillion of assets under management. 40% global assets are now committed to the transition. For a sense of scale, global GDP last year was USD85 trillion.
The launch of the Glasgow Financial Alliance for Net Zero (GFANZ) was described as a “watershed moment and gamechanger” by NGFS (Network of Central Banks and Supervisors for Greening the Financial System) Chair Frank Elderson.
GFANZ’s 450 members represent USD130trn assets. 40% global assets are now committed to the transition. GFANZ’s statements affirm that investor appetite is sky-high and the money is available for net zero.
We’re at COP26 (surprise!). Some highlights so far:
Larry Fink, CEO of Blackrock, called for a new business model for the energy transition at the Green Horizon Summit. Fink criticised oil and gas companies selling off their most polluting assets as greenwashing and implored investors to work with these companies to manage the decline of oil and gas assets.
From Glascow to Guatemala to New Zealand: we're still online most of the time (but some of us managed to be at COP26 in person!)
The approach to COP26 entails a reimagination of the future for stakeholders across all sectors and nations. This defining moment in climate history has given fresh impetus to sustainable debt markets with Q3 witnessing a new record annual figure for labelled debt, months before the year’s end.
Green bond investment in a single year could reach the $1trillion milestone for the first time by the end of Q4 2022, according to respondents to a new Climate Bonds market survey.
Climate Bonds has released the Transition Finance in China’s Guangdong Hong Kong-Macau Greater Bay Area report, which discusses the principles that credible transition finance