Experts debunk $130trn net zero pledge as 'hot air' commitment

Last Wednesday (3 November), it was announced the Mark Carney-led cohort of financial firms had committed $130trn of capital to reach net zero emission targets by 2050, and can deliver $100trn of investment needed to reach net zero. However, Jeanne Martin, senior manager at ShareAction, warned "there are two problems with GFANZ's numbers". "Firstly, the $130trn figure is simply wrong," she said. "It counts the total financial assets of all the members of the various GFANZ groups and adds them up to $130tn. "It is true these financial institutions have all committed to reach net zer...