The commitment of the Glasgow Financial Alliance for Zero Net Emissions (GFANZ), which was established in April this year, nearly doubles the amount that had been pledged so far, according to information released by the coalition itself, which involves institutions from 45 different countries. .
Pact participants are expected to develop science-based green finance plans and set milestones for 2030, as part of the pact signed today.
Former executive director of the central banks of Canada and the UK, Mark Carney, currently head of climate finance at the UN, said the pledge is a milestone in the history of private contribution to a global economy without carbon dioxide (CO2). ).
“The 130 trillion is more than what is needed for the global transition to net zero emissions,” he said.
“What we hear today is that the money is there, but the money needs projects aligned with zero emissions”, added the Canadian, at a summit held in Glasgow, at the UK.
The commitment to invest in a carbon-free economy has been joined by financial institutions such as HSBC, Bank of America and Santander.
The announcement, however, drew criticism from environmental organizations, as those involved in the initiative last month rejected the International Energy Agency’s proposal to stop funding gas projects, of oil and carbon.
The main objective of COP26 is to move forward with the goal of preventing the global temperature from rising by more than 1.5 degrees compared to the pre-industrial period, and the investment to achieve this goal. is one of the main challenges of the conference. EFE
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