Newly-formed Asia-Pacific Network to Fund Net Zero

An Asia-Pacific branch of an international alliance of financial institutions working to limit global warming has been founded in an effort to stimulate emissions reduction in a region critical to the multitrillion-dollar fight against climate change.

“Unlocking investment in low-carbon and renewable energy is critical in the APAC region if the world is to limit global temperature rise,” the Glasgow Financial Alliance for Net Zero said Wednesday.

According to the alliance, avoiding the worst effects of climate change will need an estimated $13.6 trillion in investment in APAC this decade alone, citing the UN-backed Race to Zero programme.

The APAC Network will assist Asian financial institutions in achieving net-zero emissions, managing climate-related risks, developing green financing, and encouraging discussion between financial institutions and governments.

The group, which has over 450 members worldwide representing over $130 trillion in assets, is launching the APAC Network to help financial institutions in Asia chart a path to net-zero emissions, manage climate-related risks, develop green finance, and foster dialogue with financial institutions and policymakers.

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