Following the publication of target-setting frameworks across its functional groups, the Net Zero Financial Service Providers Alliance (NZFSPA) is reorganising, with stock exchanges, research & data providers, index providers and auditors pursuing their activities independently of the initiative, including through integrating them into other existing forums and working groups.
Since its launch, the NZFSPA has developed and published target-setting frameworks which have served to encourage innovation, transparency and product evolution in the financial services sector and support more choice for end users as they implement their climate strategies. The frameworks are a valuable reference for any service provider interested in developing their own net-zero aligned product strategy.
Going forward, members of the NZFSPA’s Research & Data and Index provider groups will be invited to participate in existing PRI climate workstreams, offering service providers structured opportunities outside of existing client relationships to gather feedback from asset owners and asset managers on priority areas for improving the quality, consistency and accessibility of climate related information. As participants focus on individually implementing firm-level objectives, this next step will support peer-learning and cross-sector engagement that can adapt as investor needs and market priorities continue to evolve.
The Exchange group will continue its work with the support of the UN Sustainable Stock Exchange (UN SSE) initiative as the Net Zero Exchange Group – SSE Climate Leaders. The group has tripled in size since the NZFSPA’s launch, with all members following the target-setting framework and reporting against it annually. Due to its continued growth and regular reporting, the group has matured to the point where it will benefit from a more exchange-focused structure and activities.
This evolution reflects the ongoing commitment of service providers who participated in the NZFSPA to supporting ambitious climate action and accountability across the financial system, and to shaping the tools and data that enable investors to effectively manage climate risk and opportunities.
