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Climate Change

Climate finance group wants data to see 'who's part of the solution'

GFANZ to release new reporting proposal as early as mid-June, Mark Carney says

Former Bank of England Gov. Mark Carney recommended the formation of the Glasgow Financial Alliance for Net Zero last year. (Photo by Kotaro Igarashi)

NEW YORK/TOKYO -- A global group of financial companies targeting net-zero greenhouse gas emissions by 2050 wants businesses to disclose more information about their plans for decarbonization, the coalition's co-chair, Mark Carney, tells Nikkei.

The Glasgow Financial Alliance for Net Zero (GFANZ), which boasts more than 450 members, is seeking information on net-zero transition plans of high-emitting companies to help it decide where to allocate its investments and financing. Financial institutions are trying to create a common framework to make it easier to obtain and compare information on different companies.

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