Cracks showing in Mark Carney’s net-zero financial alliance
Corporate Knights
OCTOBER 3, 2022
Mark Carney’s US$130-trillion Glasgow Financial Alliance for Net Zero (GFANZ) has lost two pension funds and a consulting company in recent weeks, and some large U.S. and Canadian banks are threatening to withdraw because of new membership criteria requiring a fossil fuel phase-down. GFANZ, which made international headlines and represented one of the planet’s best hopes for meaningful climate action a year ago, is facing growing discontent within its membership of global banks, insurers, invest
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