Giant banks wary about meeting tougher climate requirements

Mark Carney says members of GFANZ need guidance on matters such as appropriate decarbonisation paths for certain industries. (Image: Getty)

Bloomberg

Sun, 25 Sep 2022

By Alastair Marsh and Natasha WhiteMoney appeared to be no object when Mark Carney, the former central banker, brought together financial firms managing more than US$130 trillion (NZ$223t) of assets behind a pact to rapidly slash greenhouse gas emissions.“We have all the money we need for the transition,” he declared at last year’s United Nations climate summit.Now it appears some of the giant banks that initially supported the Glasgow Financial Alliance for Net Zero (GFANZ) are wary about meeting tougher climate req...

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