For the best listening experience and to never miss an episode, subscribe to The Decibel on your favourite podcast app or platform: Apple Podcasts, Spotify, Amazon Music, Stitcher, Google Podcasts, iHeartRadio, Pocket Casts and Youtube.
The year was 2021. And former Bank of Canada governor Mark Carney had a dream. In Glasgow, he announced that wanted to bring together the world’s financial institutions to help solve climate change. It was called GFANZ – the Glasgow Financial Alliance for Net Zero and since it’s launch that year, it has grown to include more than 500 members that manage $150-trillion in assets.
But just ahead of this year’s COP27 in Egypt, the alliance started to crack. Report on Business reporter and columnist Jeffrey Jones explains why some banks are worried that Mark Carney’s GFANZ group might cause them legal headaches.
Questions? Comments? Ideas? Email us at thedecibel@globeandmail.com