Glasgow Banking Alliance Unveils Draft Climate Plan

By Humberto J. Rocha (June 16, 2022, 5:19 PM BST) -- An international coalition of financial institutions released its draft plan for a net-zero greenhouse gas emissions standard by 2050 in an effort to limit global warming to 1.5 degrees Celsius.

The Glasgow Financial Alliance for Net Zero released its 113-page Net-Zero Transition Plan on Wednesday, proposing a number of actions and accountability mechanisms through which financial institutions can shift toward making their emissions carbon neutral in the coming decades.

These recommendations include an incremental phaseout of physical assets that rely on greenhouse gas emissions, investing in companies' net-zero transition plans and financing companies' efforts to turn to renewable energy.

The report...

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