A coalition of credit rating agencies, audit networks, index providers, and stock exchanges has established the Net Zero Service Providers Alliance (NZFSPA), committing to ambitious greenhouse gas emission reduction targets.
This newly formed group expands the representation within the Glasgow Financial Alliance for Net Zero (GFANZ), part of the UN Race to Zero campaign. GFANZ now includes over 250 financial services firms overseeing assets exceeding $88 trillion.
Members of the NZFSPA pledge to align their products and services with the goal of achieving net zero greenhouse gas emissions by 2050, setting meaningful interim targets for 2025 within one year of joining.
Notable members include Bloomberg, KPMG, London Stock Exchange Group, Moody’s, Morningstar, and Singapore Exchange.
David Schwimmer, CEO of London Stock Exchange Group, stated, “Financial markets are pivotal in the global effort to achieve net zero emissions. The formation of this alliance recognizes the critical role that market infrastructure providers, such as LSEG, play in mobilizing the necessary capital for a transition to a net zero economy and fostering the development of new green industries.”