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Financial Institution Net-zero Transition Plans

image credit: GFANZ
Charley Rattan's picture
World Hydrogen Leader , Charley Rattan Associates

UK based offshore wind & hydrogen corporate advisor and trainer; Faculty member World Hydrogen Leaders. Delivering global hydrogen and offshore wind corporate investment advice, business...

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  • Jun 18, 2022
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RECOMMENDATIONS AND GUIDANCE

Financial Institution Net-zero Transition Plans

Around 130 countries, representing 90% of global GDP, have made a net-zero commitment.

Net-zero transition plans catalyze action, operationalize commitments, and demonstrate credibility. GFANZ defines a net-zero transition plan as a set of goals, actions, and accountability mechanisms to align an organization’s business activities with a pathway for net-zero #GHG emissions that delivers real-economy #emissions reductions in line with achieving global net zero.

The voluntary recommendations and guidance are underpinned by the view that delivering on net-zero commitments is only possible if transition planning aligns finance and related services with the reduction of GHG emissions in the real economy. Hence, the focus of this report is on the GHG emissions that GFANZ members #finance and support (as opposed to their own operational emissions).

This report identifies four key approaches for financial institutions to support real-economy GHG emissions reductions:

1) financing or enabling the development and scaling of climate solutions to replace high-emitting technologies or services;

2) financing or enabling companies already aligned to a 1.5 degrees C pathway;

3) financing or enabling the transition of real-economy firms, according to robust net-zero transition plans; and

4) financing or enabling the accelerated managed phaseout of high-emitting assets.

 

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