Q. The term “GFANZ” is often seen in news is related to which of the following?
GLASGOW FINANCIAL ALLIANCE FOR NET ZERO (GFANZ) was launched by UN Special Envoy for Climate Action and Finance, along with UNFCCC Climate Action Champions, and the COP26 Presidency.
- GFANZ was originally unveiled in 2021 as a forum for leading financial institutions to accelerate transition to a net-zero global economy through de-carbonization of the economy in line with the Paris agreement. The Objective of ‘net Zero’ is to reach net-zero emissions by 2050.
- The target is in line with Race to Zero campaign of UN that rallies non-state actors, including companies, cities, regions, financial and educational institutions to take rigorous and immediate action to halve global emissions by 2030.
Source: The Hindu