The Glasgow Financial Alliance for Net Zero (GFANZ), launched by Mark Carney alongside the COP26 presidency[1].
A coalition of financial institutions that says it has committed over $130 trillion in private capital to align with net zero.
GFANZ was launched by Mark Carney alongside the COP26 presidency. Its progress report says financial sector commitments to net zero now exceed $130 trillion, a 25-fold increase under the UK and Italian Presidency. All GFANZ member alliances must be accredited by the UN Race to Zero campaign. However, the record does not establish that GFANZ commitments are binding on members, nor that Carney controls GFANZ or that his role is a command position.
It shows how a large financial alliance can announce huge commitments while leaving members free to choose whether to follow them.