Banks and asset managers join forces to launch global finance plan to tackle climate change

Many of the world's biggest banks, asset managers, insurers, and asset owners have joined forces to form the Glasgow Financial Alliance for Net Zero (GFANZ), spearheaded by former Bank of England governor Mark Carney and US Treasury secretary Janet Yellen. Although many financial firms have started to address the issue of climate change, the frameworks used can differ. That is why the new group will bring existing net zero initiatives together under one umbrella as it seeks to ensure all sub-sector efforts are consistent. GFANZ will be made up of 160 of the world's biggest banks, asse...