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Banks Try Quiet Quitting on Net Zero: Ben Caldecott comments




Members of the the Glasgow Financial Alliance for Net Zero (GFANZ) publicly committed their banks to reach net-zero carbon emissions by midcentury. Banks were irked when United Nations-backed Race to Zero proposed binding restrictions on fossil-fuel finance, reported Bloomberg.

GFANZ’s relationship with Race to Zero now “looks like it will soon snap,” says Ben Caldecott, director of the Oxford Sustainable Finance Group.

Read more via Bloomberg