Posted: 24 May 2023 Resource Type: Research Report Download Back Global financial services institutions are ramping up their effort to address the climate crisis. Many of them have made formal climate commitments and joined key initiatives like GFANZ. Set up in April 2021, GFANZ is a global coalition of leading financial institutions committed to accelerate the decarbonisation of the economy. Commitment is a great starting point. The next step is to realise the commitments and build a transparent mechanism that tracks transition progress. This report, jointly produced with Climate Policy Initiative (CPI), provides an early overview of the progress of UK GFANZ financial institutions in turning net zero commitments into actions, with a focus on subsectors including asset management, insurance, and banking. It also includes comparisons with GFANZ institutions outside of the UK. This can help us to identify achievements as well as raise awareness on challenges going into COP28. 100% All UK GFANZ entities have set climate targets ~100% Almost all UK GFANZ entities have made plans to implement their climate goals +57% direct investments in climate solutions from UK GFANZ entities 2018-2020 The Net Zero Delivery Summit 2023 The Net Zero Delivery Summit 2023 Share: Share to LinkedIn LinkedIn Share to X Share to Facebook Facebook Share to WeChat WeChat Share to WhatsApp WhatsApp Share to Email Email Download Related content Research Report Unlocking AI skills in financial and professional services Jun 2025 - A bold, practical proposal to address the UK’s AI skills gap in financial services. Unlocking AI skills in financial and professional services Research Report From commitment to action | Tracking UK financial services’ progress on the pathway to net zero Jun 2025 - The third edition of From Commitment to Action, developed for the Net Zero Delivery Summit, tracking progress of financial services firms’ net zero commitments in both the UK and globally. From commitment to action | Tracking UK financial services’ progress on the pathway to net zero Thought Piece Price (some of) it now or pay more later: the case for letting carbon markets get to work Jun 2025 - Why outdated labels are a symptom of stalling progress—and how markets can fix it, a guest blog from Gordon Bennett, Managing Director, ICE Price (some of) it now or pay more later: the case for letting carbon markets get to work Research Report Scaling the global carbon markets Jun 2025 - Building on our 2022 report Enabling the Voluntary Carbon Market, this paper reflects on progress to date and refreshes our earlier recommendations. Scaling the global carbon markets