Climate finance alliance launches Asia network to promote investment

GFANZ seeks to extend reach in coal-dependent region with Singapore office

The Glasgow Financial Alliance for Net Zero said at last year's COP26 climate summit that its members could deliver $100 trillion in financing for achieving net-zero emissions. (Photo by Yasuo Takeuchi)

TAKENORI MIYAMOTO and HIROKO MATSUMOTO, Nikkei staff writers

June 8, 2022 09:00 JST

NEW YORK/TOKYO -- A global coalition of financial institutions focused on cutting greenhouse gas emissions is launching a network focused on the Asia-Pacific, strengthening its presence in a key region in the fight against climate change, Nikkei has learned.

The Glasgow Financial Alliance for Net Zero (GFANZ), whose members commit to net-zero emissions by 2050, will open its first-ever regional office in Singapore as part of its new APAC Network. The initiative aims to deepen cooperation with regional financial institutions and promote investment in decarbonization and renewable energy.