On 15 June 2022, the Glasgow Financial Alliance for Net Zero (GFANZ) invited public comment on its draft Net-zero Transition Plan (NZTP) framework for the financial sector.
This report identifies and discusses areas that require work to enhance a global pan-sector approach to transition planning, including; adaptation and resilience; carbon credits; data challenges; a just transition; and biodiversity and nature based solutions. GFANZ is seeking feedback on the recommendations and guidance outlined in this consultation so that a voluntary framework can be finalised ahead of COP27 and GFANZ members and the wider financial sector can begin to deploy the framework.
In addition to the NZTP, for financial institutions, GFANZ has published a set of resources to enable the extensive collaboration between financial institutions, real-economy companies, the public sector and civil society to support a global whole-economy transition to net-zero.
The resources include:
- Guidance on the use of sectoral pathways for financial institutions.
- Concept note on portfolio alignment measurement.
- Introductory note on expectations for real-economy transition plans.
- Report on the management phase out of high-emitting assets.
The NZTP framework for the financial sector is now open for public consultation until 27 July 2022, to participate follow this link.