“We’ve already received over 250 science-based interim targets and there’s an additional 90 targets under review and on track to be confirmed by the start of Sharm El Sheikh,” referring to the climate summit which will be held in Egypt next month.
Financial institutions have submitted hundreds of interim climate
targets to the Glasgow Finance Alliance for Net Zero (GFANZ) ahead of
COP27, according to the alliance’s co-chair, Mark Carney.
During a speech on Monday evening, the former governor of the Bank of
England said: “We’ve already received over 250 science-based interim
targets and there’s an additional 90 targets under review and on track
to be confirmed by the start of Sharm El Sheikh,” referring to the
climate summit which will be held in Egypt next month.
GFANZ requires its members to “set 2030 interim targets that
represent a fair share of the 50% decarbonisation required by the end of
the decade”.
It is unclear whether the 250 targets that have been submitted so far
come from individual institutions, or whether some institutions have
submitted more than one target to cover different business units or
asset classes. A spokesperson for GFANZ was unable to clarify before
publication.
Carney made the comments as part of the inaugural memorial lecture
for the late Roger Gifford, who chaired the UK’s Green Finance
Initiative.
IPE
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