'Fundamentally flawed': Campaigners slam financial sector net zero alliances ahead of COP26 finance day

Cecilia Keating
clock • 6 min read
'Fundamentally flawed': Campaigners slam financial sector net zero alliances ahead of COP26 finance day

Reclaim Finance publishes scathing assessment of various financial sector alliances – including UN-backed Net Zero Asset Owners Alliance - arguing groups are failing to act fast enough to curb investment in fossil fuels

Campaigners have today called on major financial players to step up their collective climate action, branding the various high-level climate alliances that have swept the global financial sector as "not fit for purpose" and "toothless", noting that they have failed to stop major investment firms supporting new fossil fuel projects. In a damning report published this morning, Reclaim Finance has warned the various banker, investor, asset owner, and insurer coalitions grouped under the Glasgow Financial Alliance for Net Zero (GFANZ) banner are "failing badly" to deliver tangible climate ac...

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