On Tuesday, the Glasgow Financial Alliance for Net Zero (GFANZ) proposed new and enhanced guidance on developing and using portfolio alignment metrics (PAMs . Portfolio alignment measurement: supporting the development and effective . We've expanded access to sustainability-related metrics in core Aladdin tools from ~1,200 in 2020 to more than 8,000 in 20212. Thanks to all 50+ organizations who engaged with us to get the report to this stage,. It is that, but in addition, it makes some hard-hitting points about sustainability politics. The new guidance sets out a credibility framework to assess emissions-reduction targets and corporate net zero-aligned transition plans to project future greenhouse gas emissions of portfolio companies. #Deforestation has been declining, but to salvage what is left of the biological richness of life on Earth it needs to stop immediately. It also assists with work to push for net-zero-aligned policymaking in the 55 nations and states where the Alliance operates and to facilitate targeted collaboration. We hope the guidance and case studies will help support practitioners and developers with the use and construction of transparent and decision-useful portfolio alignment metrics that support capital allocation decisions to a net-zero economy, Ludzuweit concluded. David Blood, head of the portfolio alignment team at the COP26 private finance hub and co-founder of Generation Investment Management argues that portfolio alignment metrics will be a crucial catalyst of the transition to net zero. InvestmentNews ESG Summit & Film Festival. *GFANZ recently highlighted the decarbonization approach (which is central to the S&P Net Zero Carbon Budget Indices methodology) in its publication "Measuring Portfolio Alignment" (see page 10). Notably absent from GFANZ membership are the world's three largest banks Chinese banks that are all major providers of financing for fossil fuel projects all Russian and Indian banks . Following the public comment period, GFANZ will release a final report prior to COP27 in Egypt's Sharm el-Sheikh this autumn. Portfolio alignment Finally, GFANZ has today released a guide to portfolio alignment for net zero. The finance is there if the world truly wants to meet its climate goals. Oliver Wyman provided knowledge and advisory support. GFANZ members have developed voluntary guidance to support all financial institutions in their net-zero transition planning. Charged: A History of Batteries and Lessons for a Clean Energy Future by James Morton Turner, positions itself as a history of batteries. GFANZs Portfolio Alignment Measurement Report. Regional platform for GFANZ policy workstream Complements individual-country JETPs with a region-led forum for dialogue with regulators This information is confidential; it is not to be relied on by any 3rd party without prior written consent. Speaking at the launch of todays suite of GFANZ reports, Mary Shapiro, vice-chair of GFANZ, addressed concerns by saying the Alliances mission remains the same. Measuring portfolio alignment with net-zero - GFANZ Workstream. It started in April 2021, at the same time as GFANZ, with 43 founding members. Weekly round-up: August 8-12 1) GFANZ publishes guide on portfolio alignment metrics The world's largest climate finance initiative wants to improve how financial institutions track the alignment of their portfolios with net-zero goals. The great challenge is to make sure that the business of making and distributing batteries is as sustainable as it can be. No other reproduction or distribution is permitted without prior written consent. - Sustainable investing is capitalism at its best; it isn't going away The Glasgow Financial Alliance for Net Zero (GFANZ) has launched its suite of pre-COP resources, including the 2022 report on Portfolio Alignment Measurement from the GFANZ workstream chaired by Generation. to measure alignment, and we hope the next phase of the work will focus on connecting alignment methodologies to real world emission reductions. This report sets the standard for measuring the alignment of financial portfolios with the 1.5C goal of the Paris Agreement. Read more on the building-energy problem here: https://bit.ly/3ustCuG. The report examines the portfolio alignment metrics and the #GFANZ four key approaches. According to GFANZ, financial practitioners should consider ranking the quality of their emissions data sources to incentivise company disclosures while ensuring data gaps do not block the development of portfolio alignment methodologies. Bringing together the financial sector to accelerate the transition to a net-zero economy. A GFANZ working group on portfolio alignment is taking up its work. The vast majority of this was non-fire-related loss. GFANZ opens public consultation on guidance document assessing portfolio alignment with net zero targets for the financial sector, but accurate measurement of climate risks remains an. Thanks to all 50+ organizations who engaged with us to get the report to this stage, as well as the technical leadership of Anja Ludzuweit, CFA, and with the support of Edward Mason and David Blood. GFANZ the coalition launched at COP26 last year of, now, 550 financial institutions committed to net zero by 2050 today published its Actions to Mobilize Capital to Emerging Markets and Developing Economies report alongside its net-zero framework for finance firms, an updated call to action for policymakers and a guide for portfolio alignment. The Glasgow Financial Alliance for Net-Zero (GFANZ), accounting for investors with $150trn in assets, has published new voluntary guidance to help its financial members support the transition to net-zero, noting that a seven-fold increase in annual investment into renewables is required. This week, the Alliance has released a pan-sector framework for Financial Institution Net-Zero Transition Planning, and guidance on measuring portfolio alignment. Thanks to all 50+ organizations who engaged with us to get the report to this stage, as . from GFANZ a global coalition of financial institutions promoting decarbonisation aims to address existing gaps in portfolio alignment metrics. Wie hat sich unsere Natural Capital"-Strategie inmitten der Paradigmenwechsel im Finanzwesen und in der Wirtschaft, die sich seit Lancierung der Strategie vor zwei Jahren vollzogen haben, bewhrt, und welche naturvertrglichen" politischen Massnahmen haben das Thema gestrkt? The draft Glasgow Financial Alliance for Net Zero (GFANZ) Portfolio Alignment Measurement report is out. This publication reiterates that GFANZ will continue to work with stakeholders to create the right conditions for increased investment in support of global net-zero transition. 2022 CONCEPT NOTE ON PORTFOLIO ALIGNMENT MEASUREMENT 2 Acknowledgements This report was developed by the GFANZ workstream on Portfolio Alignment Measurement with input from the GFANZ Principals Group, Steering Group, and Advisory Panel. The Glasgow Financial Alliance for Net Zero (GFANZ), proposed new and enhanced guidance on measuring the alignment of financial institutions' investment, lending, and underwriting . With #COP27 and #COP15 set to direct trillions of dollars towards global challenges, were calling for urgent action at COP27 to ensure The report details our assessment of the global state of#sustainability from the power sector and industrial emissions to buildings, land, food and climate finance. This requires forward looking, robust, decision useful and comparable metrics. Meat consumption in rich regions like the United States and Europe is excessive, far beyond the protein levels required for adequate nutrition. The 2021 PAT report identified three key categories of portfolio alignment metrics tools to support financial institutions' efforts: Binary target measurements measure the alignment of a portfolio with a given climate outcome based on the percentage of investments or counterparties in a portfolio with net-zero, Paris-aligned targets. - This is the only way the planet, its people and their investments can thrive Asset managers should "measure and disclose the alignment of their portfolios consistent with" a climate scenario in which global temperatures rise 2C or lower (e.g., a Parisaligned temperature pathway), and "incorporate forward-looking alignment metrics into their targetsetting frameworks and management processes." The TCFD . If global consumption rises to such levels, the increase in emissions will be enormous. This webinar will discuss the August GFANZ Portfolio Alignment report, which provides a practitioner perspective for measuring the alignment of investment, lending, and underwriting activities with the goals of the Paris Agreement and critical 2050 global net-zero objectives. The framework focuses on enabling four aspects of transition finance, including scaling investment in climate solutions, aligning business models with a science-based pathway to net-zero, supporting companies with credible transition plans or who are in the process of aligning with a science-based target. - Sustainable investing can't change the world on its own; we need policy too SME News Service. This means GFANZ firms' net-zero commitments must use science-based guidelines to reach net-zero emissions by 2050, cover all emission scopes, include 2030 interim target settings and commit to transparent reporting and accounting in line with Race to Zero criteria. But governments are still being chicken about meat, and have barely begun to experiment with public policies that could drive down consumption. GFANZ unveils enhancements to measuring Net-Zero portfolio alignment for financial institutions Now open for public comment, the GFANZ Portfolio Alignment Measurement Report provides additional guidance for financial institutions on implementing and selecting portfolio alignment metrics. Rather than accepting [company commitments] at face value, practitioners should evaluate their credibility.. This report provided a critical assessment of the strengths and trade-offs of the options available to measure the alignment of financial portfolios with climate goals. Global coalition highlights the importance of credible, forward-looking metrics for measuring impact. Source: GFANZ . While governments are being chicken about meat, Generation's Sustainability Trends Report 2022 evidences rapidly increasing investor interest in alternative protein. Explore the full inventory here: https://climatetrace.org/, The Net Zero Asset Managers initiative has today announced initial targets for 86 investors. Faversham House Ltd 2022 edie news articles may be copied or forwarded for individual use only. Language: english. "It's a hugely exciting moment that this work is now being carried on within GFANZ," said Edward Mason, director of engagement at Generation Investment Management and staff lead for the portfolio alignment workstream in GFANZ. GFANZ's proposed framework consists of three "conceptual steps": translating net zero-aligned and scenario-based carbon budgets into benchmarks, assessing company-level alignment against such benchmarks based on cumulative emissions, and aggregating company-level alignment at the portfolio level. The report outlined the PAT's views on portfolio alignment metrics and areas of further work as a resource for organizations interested in exploring portfolio alignment. Individual signatory initial target disclosures https://lnkd.in/eg9vJrFk Read more in our call to action: https://lnkd.in/eF4M-NYd #GenderSmartCOP27 | @gendersmartIS | @avivaplc, With #COP27 underway in Egypt, check out our annual Sustainability Trends Report. The report aims to drive adoption of portfolio alignment metrics and meaningful convergence . This report sets the standard for measuring the alignment of financial portfolios with the 1.5C goal of the Paris Agreement. All rights reserved. Ahead of COP27, Glasgow Financial Alliance for Net Zero (GFANZ) has issued a report on Measuring Portfolio Alignment for financial institutions, providing a clear framework to help FIs navigate net zero portfolio methodologies. GFANZsfirst annual progress report revealed that there are now more than 550 organisations participating in GFANZ, up from 160 when it was first founded. Previously, Anja worked closely with the 2018 UNEP FI investor pilot project and was a contributing author to the UNEP FI Changing Course publication. Last year over 3.5 million hectares of tropical forest was lost to #deforestation. The draft Glasgow Financial Alliance for Net Zero (GFANZ) Portfolio Alignment Measurement report is out. On 8 August, the chairs of the Glasgow Financial Alliance for Net Zero (Gfanz) - Mark Carney, Michael Bloomberg and Mary Schapiro - released a statement welcoming the UN Race to Zero's new minimum criteria requiring associated members to get out of all unabated fossil fuels. Financial institutions have a vital role to play in powering our transition to a low-carbon world, and we urge the sub-alliances and members to live up to their responsibilities to support the phasing out of fossil fuels in line with a 1.5C-aligned pathway, she said. Published on: 12 Aug, 2022, 3:56 am. "To measure portfolio alignment, financial practitioners should consider nine key decisions, the key design judgements," said Anja Ludzuweit, executive director of portfolio alignment measurement for GFANZ. Measuring Portfolio Alignment: Driving Enhancement, Convergence, and Adoption (November 2022) . Following the public comment period, GFANZ will release a final report prior to COP27 in Egypts Sharm el-Sheikh this autumn. https://lnkd.in/eyNPPc6B, Too little progress has been made in solving the building-energy problem, but LED lighting shows how quickly and efficiently change can come. Vanguard, one of the largest investment managers in the world, announced today that it is withdrawing from the Net Zero Asset Managers initiative (NZAM), a major multi-trillion dollar group of investment managers committed to supporting the goal of net zero greenhouse gas emissions by 2050. This Package provides access to the entire event, Executive Director of Portfolio Alignment Measurement. Edward Mason serves as the Director of Engagement at Generation Investment Management. Martin said: Its clearer than ever that voluntary initiatives alone arent enough to drive the urgent action needed to secure a liveable future. The workstream was supported by the GFANZ Secretariat. Content Tags: Portfolio Management Transition Emissions Glasgow Financial Alliance for Net Zero (GFANZ) | 3,209 followers on LinkedIn. Learn more about the sustainability of the global food market: https://bit.ly/3F8mr0T, Heat pumps are an essential technology to reduce the emissions created by buildings. #netzero, Al Gore and David Blood op-ed in the WSJ today on how sustainable investing is consistent with fiduciary duty: Yet they have a crucial role to play in moving us towards a net-zero world, whether by powering electric cars or backing up renewable energy sources. Only a decade ago, governments began pushing the adoption of bulbs built around light-emitting diodes in both new and existing buildings. Thanks to all 50+ organizations who engaged with James Davis auf LinkedIn: GFANZ-Portfolio-Alignment-Measurement-August2022.pdf While launching the new voluntary framework, GFANZ also called on G20 nations to close a financing gap between current climate pledges and actual recorded levels of decarbonisation, with a focus on raising capital for emerging and developing economies. This week, the Alliance has released a "pan-sector framework" for Financial Institution Net-Zero Transition Planning, and guidance on measuring portfolio alignment. Read more on what is needed to save nature here: https://bit.ly/3GkHttV, Todays Climate TRACE data release covers more than ever before: If financial institutions are to deploy the capital required to usher in the net-zero transition, they need a way to measure whether their financing activities align to their ambition., She added: Building upon the implementation of sound financial sector and real-economy transition plans as well as science-based net-zero pathways, GFANZs Portfolio Alignment Measurement Report will help financial institutions use metrics to assess whether their portfolio companies are 1.5C-aligned or need resources to transition., David Blood, senior partner of GFANZ-member Generation Investment Management, added: Measuring portfolio alignment is essential for financial institutions to understand their progress in reaching net-zero and allocating capital to transition finance opportunities for the real-economy.. In June, GFANZ members were asked to meet a more stringent set of criteria to be accredited and slash emissions 50% by 2030 as part of the Race to Zero initiative. The Financial Institution Net-zero Transition Plan focused on four key aspects to drive net-zero actions seven sector-specific alliances including asset managers and owners, bankers, insurers, consultants, financial service providers and consultants. The consultation With todays transition planning framework, we can accelerate the speed and scope with which these enormous financial resources are put to work to achieve the worlds goals.. Its work is being taken up by the Glasgow Financial Alliance for Net-Zero (GFANZ), a Carney-led coalition, "as the natural place to take guidance on portfolio alignment metrics to the next level - where the financial sector meets to define industry standards". This is important work and work that must be done right, for many reasons. As the questions above illustrate, these issues are not without theoretical and practical challenges, and investors may reasonably disagree about the best approach. GFANZ Progress Report | PDF | Low Carbon Economy | International Energy Agency GFANZ Progress Report - Free download as PDF File (.pdf), Text File (.txt) or read online for free. And we are strengthening our Aladdin Climate offering through the acquisition of . #esg #sustainability #investment #netzero, Women and girls are both disproportionately impacted by #ClimateChange and integral to a just transition. In order to assist the transition to net zero, GFANZ has today published a voluntary framework for financial institutions. The framework also claims that investors should manage the phase-out of high emitting assets that would likely become stranded under a net-zero transition, but GFANZ stopped short of cancelling support for fossil fuel firms as a whole. alignment approaches. - ESG analysis is a tool to advance sustainable investing; it isnt an outcome in itself -#Emissionsdata for 70K+ individual sources worldwide Mary Schapiro, vice chair of GFANZ, said: Growing global scrutiny of transition plans makes the need for business action on climate ever more urgent. GFANZ is publishing today Measuring Portfolio Alignment: Driving Enhancement, Convergence, and Adoption, which builds on a multi-year work program and recent public consultation. Glasgow Financial Alliance for Net Zero is seeking public comment on new Portfolio Alignment Measurement Report, which aims to set out how financial firms can deliver on net zero goals. The . Bloomberg LP announced new Implied Temperature Rise Metrics to help investors determine how companies and portfolios align with climate risk goals, such as the Paris Agreement's objective to limit global warming to 1.5C. She has been shortlisted for Story of the Year and Investment Journalist of Portfolio investments are classified as Buyout and Growth, Secondaries and Fund of Funds. -New capability to examine data by different #GHGs (carbon dioxide, methane, and nitrous oxide) The Groups purpose is to set and oversee the strategic direction of GFANZ. - The investment community is adapting for the next chapter of capitalism, in which sustainable investing is mainstream Together, they work to accelerate the world's transition to . #ClimateFinance has a gender lens. The report aims to drive adoption of portfolio alignment metrics and meaningful convergence . Join our growing army of changemakers and get unlimited access to our premium content. GPs for example are expected to: Include all companies in which they hold 25%+ equity, have a board seat and are in a high impact sector (defined by TPI) in their initial targets. The Alliance came under fire last week when it was revealed to have dropped its partnership with the UNs Race to Zero campaign. GFANZ has stated that, going forward, members will be encouraged, but not required, to partner with the Race to Zero. Building on the initiatives positive start, the focus must now be on supporting managers to increase their targets and turning commitments into action with an emphasis on supporting real world emission reductions without this, the likelihood of limiting temperature rises to no more than 1.5 degrees becomes more distant. Stephanie Pfeifer, CEO of IIGCC. As such, it has proposed new guidance on measuring the alignment of financial institutions investment, lending, and underwriting activities with net-zero commitments. Previously, Edward was with the Church Commissioners for England for 11 years, and was the head of responsible investment since 2014. GFANZ's Portfolio Alignment Measurement Report has been published to gain feedback from the finance sector on whether proposed frameworks will provide relevant metrics and data collection to ensure portfolios are 1.5C aligned. Portfolio alignment metrics (PAMs) are measurement systems that financial firms can use in order to assess the progress of their investments to decarbonise, as well as inform new investment. GFANZ uses the term "orderly transition" to refer to a net-zero transition in which both private sector action and public policy changes are early and ambitious, thereby limiting economic disruption related to the transition (e.g., mismatch . More by Natasha Turner. Portfolio alignment Finally, GFANZ has today released a guide to portfolio alignment for net zero. That accountability extends to governments and international financial institutions whobased on the real-world experience of GFANZ membersmust now deepen their efforts to address climate change. It explores the different types of use cases for those metrics and identifies the barriers to adoption. GFANZ also aims to drive greater levels of convergence on methodological best practice approaches and increase transparency on the underlying assumptions utilised in those evaluations. It outlines the progress that GFANZ has driven in critical areas such . The report aims to drive adoption of portfolio alignment metrics and meaningful convergence . Followed . If governments pursued similar policies with other solutions to the building-energy problem we could make rapid progress. The GFANZ was established ahead of COP26 last year in what was regarded as the global financial sectors biggest collaboration on the net-zero transition. -Updated country/sector-level data to include 2021 The campaignannounced earlier this yearits plans for increasing its minimum participation requirements, raising questions about whether financial sector participants would be able to increase the level of detail and ambition in their climate plans accordingly. The report proposes and seeks guidance on portfolio alignment use cases as well as enhanced guidance for designing and implementing portfolio alignment metrics. Last month it was revealed that GFANZ had cut its ties with the UN-backed Race to Zero campaign and changed its minimum requirements for participation. Green Finance Briefing: GFANZ moves a step ahead on net zero portfolio alignment. This brings total number of asset managers that have set initial targets to 169. This publication refers to a paper by Bolton, P., Kacpercyzk, M., Samama, F., "Net-zero carbon portfolio . The draft Glasgow Financial Alliance for Net Zero (GFANZ) Portfolio Alignment Measurement report is out. GFANZ is one of the multiple voluntary financial groups affiliated with GFANZ and Race to Zero, which share the same goals of reaching net zero but have guidelines specific to a sub-sector of finance. It identifies four key financing strategies that GFANZ said are essential to the transition; investing in climate solutions, investing in companies that are already aligned with 1.5 degrees, investing in transitioning companies, and managing the phase out of emissions. GFANZ Progress Report GFANZ Progress Report Open navigation menu Close suggestionsSearchSearch enChange Language close menu Language English(selected) espaol portugus These organisations collectively manage some $153trn of assets. Portfolio Alignment Measurement GFANZ Policy Call to Action 26 31 43 54 64 78 84 3. - Sustainable investing is about investing in businesses that are driving toward a world with low greenhouse-gas emissions that is also prosperous, equitable, healthy and safe The private sector has stepped in with protein substitutes based on plants, a trend that holds a lot of promise in cutting over-consumption of meat and dairy products. The guide then highlights four categories of alignment metrics: climate solutions, aligned strategies, aligning strategies, and companies where there is the option to manage a phase-out of emissions. This report sets the standard for measuring the alignment of financial portfolios with the 1.5C goal of the Paris Agreement. The coalition said the finance industry will need credible, forward-looking metrics to help it measure their progress on net-zero commitments and to reallocate capital to support the transition. Atmospheric CO2 /Parts per Million /Annual Averages /Data Source: noaa.gov. Portfolio Alignment Measurement - Financial institutions and climate data providers need to work together to address barriers to implementation and using portfolio alignment metrics; . Further guidance on measuring portfolio alignment and recent recommendations made by the launch on climate data steering committee and the Climate Data Steering Committee on the launch of Net Zero Data Public Utility (NZDPU). Thanks to all 50+ organizations who engaged with us to get the report to this stage, as well as the technical leadership of Anja Ludzuweit, CFA, and with the support of Edward Mason and David Blood. The UN climate body, UNFCCC, has seen its chief Simon Steill added to its Principals Group. Ever since its foundation, it has faced calls to clarify how it plans to get members to reduce their financed emissions in a science-based manner. Press release https://lnkd.in/ep8xKHTa Case study: Building a net-zero aligned portfolio. With huge thanks to the GFANZ and Oliver Wyman team, especially . GFANZ also noted that it would require a seven-fold increase totalling an additional $1trn annually by 2030 in investments into clean tech in emerging markets to reach net-zero by 2050. 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