Experts debunk $130trn net zero pledge as 'hot air' commitment

Two problems with GFANZ’s numbers

Lauren Mason
clock • 2 min read
Mark Carney

Mark Carney

The Glasgow Financial Alliance for Net Zero’s (GFANZ) pledge to achieve net zero by 2050 is a “hot air commitment”, according to some industry experts, who warn that “now is the time for action, not words”.

Last Wednesday (3 November), it was announced the Mark Carney-led cohort of financial firms had committed $130trn of capital to reach net zero emission targets by 2050, and can deliver $100trn of investment...

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