Some big banks leaving the United Nations climate lending initiatives
On 21 April 2021 in Glasgow, Scotland, a United Nations financial program called the Glasgow Financial Alliance for Net-Zero (GFANZ) was formed. It was to facilitate and serve as a link for lending and investments by big global financial institutions and private lenders and investors to countries around the world that needed financing for climate change programs and initiatives. This financial connection arrangement was considered crucial for nations to effectively address climate change adaptation and mitigation challenges as required by the Paris Agreement.
The United Nations also formed a group that was a subsidiary to GFANZ . . .