Private capital committed to transition tops $130tn

Transition finance has hit levels needed to deliver net zero in 2050, Glasgow Financial Alliance for Net Zero tells Cop26

The amount of private capital committed to the transition has exceeded $130tn and reached the scale needed to deliver net-zero emissions by 2050, according to the Glasgow Financial Alliance for Net Zero (GFANZ), a global coalition of leading financial institutions. Transition capital has been committed by 450 firms across 45 countries, GFANZ says. “The architecture of the global financial system has been transformed to deliver net zero,” GFANZ co-chair Mark Carney told the Cop26 climate conference in Glasgow today. “We now have the essential plumbing in place to move climate change from the fringes to the forefront of finance so that every financial decision takes climate change into account