Representing more than 550 Global Financial Institutions that have committed to fully decarbonize their portfolios by 2050, the Glasgow Financial Alliance for Net Zero (GFANZ) will celebrate its 2nd birthday in April. A lot has changed thanks to GFANZ strong presence and awareness creation since its founding in April 2021, attention to banks’ financed emissions and Net Zero strategy is no longer a nice to have, but it is becoming more and more business as usual.

Banks are increasingly thinking how can they decarbonize their portfolios, manage their climate risks in the most efficient way while still making some decent profit. Delivering the net-zero transition will be incredibly hard work according to CEO of one GSIB institution. At the same time this is becoming also an important opportunity for banks to tap into the new sustainable revenue markets and design together a more sustainable future.

What can we expect from 2023 when it comes to banks‘ portfolio decarbonization initiatives and strategies?