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Exchanges and index providers join net zero alliance

Exchanges and index providers join net zero alliance

A collection of credit rating agencies, audit networks, index providers and stock exchanges have launched the Net Zero Service Providers Alliance (NZFSPA) that will commit them to tough greenhouse gas emission targets.

The new group sees parts of the financial ecosystem not previously represented join the Glasgow Financial Alliance for Net Zero (GFANZ), which is part of the UN Race to Zero campaign and now includes over 250 FS firms, responsible for assets in excess of $88 trillion.

NZFSPA members are committing to aligning all relevant products and services to achieve net zero greenhouse gas emissions by 2050 at the latest and to set meaningful interim targets for 2025 within 12-months of joining.

Members include Bloomberg, KPMG, London Stock Exchange Group, Moody's, Morningstar, and Singapore Exchange.

David Schwimmer, CEO, London Stock Exchange Group, says: “Financial markets are central to the world achieving net zero emissions. A new financial service provider’s alliance recognises the pivotal role market infrastructure providers such as LSEG have in mobilising the trillions needed to transition to a net zero world and support the growth of new green industries.”

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