The global coalition of financial institutions that are committed to the transition to a zero carbon economy have launched, in February, in Brazil, the first advisory group in Latin America and the Caribbean

GFANZ (the Glasgow Financial Alliance for Net Zero), which is a global coalition of financial institutions committed to accelerating the decarbonization of the economy, announced in february, before the start of the Brazilian Forum for Climate Finance, the creation of the GFANZ Brazil Chapter. This is the first Chapter of the entity in Latin America and the Caribbean, and will bring together local financial actors who are focused on achieving net zero greenhouse gas emissions.

iCS was invited to join, as an observer, the Advisory Group of the GFANZ Brazil Chapter, which will be chaired by Joaquim Levy, Director of Economic Strategy and Market Relations at Banco Safra and a former Minister of Finance of Brazil.

Globally, GFANZ, which currently brings together almost 700 financial institutions, was founded with two purposes: to expand the number of financial entities willing to follow the path of decarbonization and to establish a forum to address the challenges of the sector on the topic, helping to guarantee that high levels of ambition are corresponded with achievable and verifiable actions. The group brings together independent sectoral alliances and connects the financial community to the Race to Zero campaign, to climate scientists and experts, and to civil society.

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