News: Climate Week NYC- Powering Solutions Ahead of COP30. Read it here.
Parts of this site were translated using AI. Accuracy may vary.
News: Climate Week NYC- Powering Solutions Ahead of COP30. Read it here.
Parts of this site were translated using AI. Accuracy may vary.
Climate and sustainable finance, mainstreaming climate in investments and insurance
A transition plan is a component of a financial institution’s overall strategy that sets out targets, actions, and resources for transitioning to a lower-carbon economy. This includes measures such as reducing greenhouse gas emissions.
Axis: Unleashing Enablers and Accelerators including on Financing, Technology and Capacity-Building
Key Objective: Climate and sustainable finance, mainstreaming climate in investments and insurance
A transition plan can serve as a key strategic tool for a financial institution, helping to embed a long-term strategy for transition, risk management, and transition-related opportunities.
1) Over 30 jurisdictions, representing approximately 55% of global GDP, have announced steps to implement or align with International Sustainability Standards Board (ISSB) standards, including the IFRS S2 requirement on Net-Zero Transition Plans (NZTPs).
2) Over 700 financial institutions are members of the Glasgow Financial Alliance for Net Zero (GFANZ), a coalition that includes 80% of Global Systemically Important Banks. Collectively, these GFANZ members represent approximately 40% of global private finance.
Glasgow Financial Alliance for Net Zero (2024). GFANZ 2024 Progress Report. https://assets.bbhub.io/company/sites/63/2024/11/GFANZ-Progress-Report-2024.pdf
