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A new report says more hundreds of billions is still invested from GFANZ members
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This is to the tune of $8.5bn according to new research
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Its report found a seven-fold increase is required for clean energy investments in emerging and developing economies for the world to be on track to reach net zero by 2050
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It is also looking to assess and aid with emissions targets for businesses
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The Environmental Audit Committee believes financial institutions in the UK could play a potentially pivotal role in supporting reductions in fossil fuel extraction
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It will require these companies to publish clear plans on how they hope to achieve net zero by 2050
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The UNFCCC has revealed that registrations for the GCAP jumped by 22% last year, with more than 7,300 businesses getting involved
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GFANZ, which represents $90tn in global assets, has published a report of the further action that needs to be done by G20 governments to achieve net zero aims
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The members of the Net Zero Financial Service Providers Alliance have committed to align their services and products to improve consistency in financial decision-making with achieving a net zero economy by 2050
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