Where are the strings attached to the money committed to net-zero transformation?

For too long, well-meaning market-driven initiatives have mostly sought to shield finance from climate risks. Now it is time to urgently address the risks that finance poses to the climate.

Mark Carney’s announcement of the more than $130-trillion commitment from the Glasgow Financial Alliance for Net Zero at COP26 was notable, but ensuring these hopeful commitments have a real impact requires legislators and regulators to start fixing the wonky plumbing of the financial world, writes Sen. Rosa Galvez.IMF photograph by Ryan Rayburn

Opinion

BY ISG SENATOR ROSA GALVEZ

November 15, 2021

Finance was one of the main themes of COP26. Most notable was Mark Carney’s announcement of the Glasgow Financial Alliance for Net Zero (GFANZ) commitment of more than $130-trillion in private capital to transform the economy towards net-zero emissions. But the next day, Bloo...

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