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Asset owner flags concerns over NZAOA, PAAO reporting requirements, working groups and overlap with EU regulation.
The exit marks the initiative’s fourth departure in two years.
TNFD to focus on nature transition plans, GFANZ to look at nature in the net-zero transition plan framework.
Regional GFANZ chapter will also work on policy initiative and 'voluntary guidance' on transition strategies.
Significant majority of banks back new release, which includes facilitated emissions, but greener members retain concerns.
Triodos and Ecology Building Society will remain members of GFANZ alliance despite threats of COP departure.
Financial institutions are keen to get involved in discussions on nature in transition plans, GFANZ's Joy Williams tells RI.
Separately, a methodology for coal phase-out 'transition credits' is set to be released at COP28.
Carbon Tracker has criticised government policies for giving ‘mixed messages’ on climate change.
Net Zero Financial Services Providers Alliance lags on target-setting frameworks, removes references to credit rating agencies from its website.