Banks and asset managers join forces to launch global finance plan to tackle climate change

Although many financial firms have started to address the issue of climate change, the frameworks used can differ. That is why the new group will bring existing net zero initiatives together under one umbrella as it seeks to ensure all sub-sector efforts are consistent. GFANZ will be made up of 160 of the world's biggest banks, asset managers and insurers with assets in excess of $70trn.  "This is the breakthrough in mainstreaming climate finance the world needs," Carney said in a statement. Investor alliance calls for banks to cease fossil fuel financing "Most fundamentally, GF...