Mark Carney Launches Net Zero Financial Services Provider Alliance

Global credit rating agencies, stock exchanges, index providers, credit rating agencies, and auditors have come together to form the Net Zero Financial Services Provider Alliance and pledge to align their products and services with global climate goals. increase.

The London Stock Exchange Group, Deloitte, KPMG, EY, PwC, S & P Global and Moody’s Corporation are one of the 18 founding members of the Alliance and were launched today by the UN Special Envoy on Climate Change and Finance and the former Bank of England Governor. To do. Mark Carney.

All members of the NetZero Financial Services Provider Alliance must promise to coordinate “all relevant products and services” to achieve Netzero greenhouse gas emissions by 2050 at the latest. They also set a “meaningful” provisional target for 2025 within 12 months of joining the group to reduce operational emissions in line with limiting global temperature rise to 1.5 ° C. I promised to take the measures.

In a statement, the Net Zero Financial Services Provider Alliance said its launch marked a “significant step forward” in the transition of the financial system to Net Zero, and progress towards goals is important to inform corporate decisions. It depends on services and products. Banks, asset managers and owners are in line with global climate goals. “Financial services provider data, products and services are one of the key indicators of capital flow,” he said.

The alliance will be launched in less than a week. Investigation from carbon tracker warned auditor The accounting valuation of the company did not adequately explain the climate risk.

The NetZero Financial Services Provider Alliance joins the Grassgo Financial Alliance for Netzero (GFANZ), an affiliated group launched by Kearney earlier this year to integrate the various NetZero alliances formed within the financial sector. ..

“The new Net Zero Financial Services Provider Alliance will be important to help the financial sector achieve Net Zero,” Kearney said. “By joining the Alliance and GFANZ, these companies are committed to ensuring that their products and services support the high ambitions and credible Net Zero transition needed to reach the 1.5 degree goal. I am. “

The group is the fifth major Net Zero Alliance launched in the financial sector in the last two years, following the Net Zero Asset Owners Alliance in September 2019, the Net Zero Asset Manager in December last year, and Net Zero Banking. is. Alliance in April this year, Net Zero Insurance Alliance in July.

COP26 President Alok Sharma also praised the launch of a new initiative. “Helping mobilize the money needed to accelerate the transition to Net Zero by the middle of the century is important to save our planet from the worst effects of catastrophic climate change,” he said. Said. “These new commitments from major financial services providers show great climate leadership towards helping us achieve zero.”

The launch of the Net Zero Financial Service Providers Alliance brings together dozens of financial institutions with over $ 10 trillion in assets to bring together an “ambitious and transformative” global biodiversity framework for 2020 and beyond. This was achieved by asking the government to establish GBF). ) At the next COP15 Biodiversity Summit.

so Official statement The 78 agencies behind the appeal, announced Tuesday, said policies flowing from an ambitious framework will accelerate and expand the long-awaited flow of private capital that could promote net zero and a naturally positive economy. He said.

“The next draft of GBF needs to more accurately reflect the level of urgency and ambition needed to protect and restore biodiversity,” the statement said. “It is imperative that GBF highlight the important role that financial institutions and the private sector can and should play in achieving the 2030 milestones and 2050 goals.”

Appeal requires government to amend Current draft version of GBF “Explicit” for financial institutions and businesses to coordinate the flow of funds to support the global biodiversity goals of breakthrough biodiversity agreements, backed by appropriate regulatory measures and financial incentives. Expectations “.

The campaign, coordinated by the non-profit Ceres and the Finance for Biodiversity Foundation, will give world leaders a national biodiversity strategy and action plan so that it can be successfully enacted with domestic support after the GBF is completed. We are calling for strengthening (NBSAP). Policies to achieve global biodiversity goals.

Regulations that also enable financial institutions to address biodiversity-related risks and opportunities, starting with the elimination of all biodiversity-harmful subsidies and the introduction of corporate disclosure requirements that help with consistent decision-making. I want to build an environment.

Mark Carney Launches Net Zero Financial Services Provider Alliance

Source link Mark Carney Launches Net Zero Financial Services Provider Alliance

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