Global Net-Zero Finance Alliance Launches Asia Network in Singapore

Global Net-Zero Finance Alliance Launches Asia Network in Singapore

BY  
Seneca ESG  
- June 9, 2022

The Glasgow Financial Alliance for Net Zero (GFANZ), a coalition of global leading financial institutions, launched an Asia-Pacific (APAC) network and office in Singapore on June 8, as reported by Nikkei Asia on the same day. This marks the first-ever regional office of GFANZ. The APAC network aims to deepen collaboration with regional financial institutions and facilitate investment in decarbonization and renewable energy. The Singapore office will receive support from Singapore state investor Temasek , the Monetary Authority of Singapore (MAS), and the Singapore Exchange. According to GFANZ, all regions need to join forces to decarbonize their economies, and the global financial system will need to fund the transition. GFANZ also plans to set up chapters with offices in countries across APAC.

Founded in 2021, GFANZ has more than 450 member firms including banks, insurers, asset managers, and financial service providers, representing around 40% of global private financial assets. All members of GFANZ have committed to net-zero emissions by 2050. Furthermore, they also aim for net-zero emissions in their investment portfolios. Last November, the alliance declared at the COP26 summit that member companies could offer the estimated USD100tr of finance needed for net zero over the next 30 years. According to the UN-backed Race to Zero campaign, APAC needs USD13.6tr of investment over the decade to facilitate the global net-zero transition and avoid the worst impacts of climate change. GFANZ’s APAC network consolidated Singapore’s status as the green finance hub among the Association of Southeast Asian Nations (ASEAN). The country has accounted for around half of ASEAN’s green bond and loan market.

Sources:

https://asia.nikkei.com/Spotlight/Environment/Climate-Change/Climate-finance-alliance-launches-Asia-network-to-promote-investment

https://www.straitstimes.com/asia/se-asia/global-finance-coalition-sets-up-singapore-office-to-spur-regional-climate-action

https://finance.sina.com.cn/esg/2020-08-13/doc-iivhuipn8462924.shtml

지금 바로 Seneca ESG 툴킷 사용 시작하기

포트폴리오의 ESG 성과를 모니터링하고, 나만의 ESG 프레임워크를 만들며, 더 나은 비즈니스 의사결정을 내리세요.

Toolkit

Seneca ESG

관심 있으신가요? 지금 문의하세요

문의하려면 오른쪽 폼을 작성하시거나 아래 이메일 주소로 연락 주십시오.

sales@senecaesg.com

싱가포르 지사

7 Straits View, Marina One East Tower, #05-01, Singapore 018936

+(65) 6223 8888

바르셀로나 지사

Carrer de la Tapineria, 10

Ciutat Vella, 08002, Barcelona, Spain

+34 612 22 79 06

타이베이 지사

77 Dunhua South Road, 7F Section 2, Da'an District Taipei City, Taiwan 106414

(+886) 02 2706 2108

리마 지사

Av. Santo Toribio 143,

San Isidro, Lima, Peru, 15073

(+51) 951 722 377