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The document proposes a 'portfolio-led approach' to assist financial institutions in implementing net-zero decarbonization targets. This approach utilizes a four-pillar framework to help banks identify where and how to support the real-economy transition across different sectors and geographies. It is designed to integrate into the three-stage process of strategy design, implementation, and reporting, and is compatible with existing frameworks such as the Glasgow Financial Alliance for Net-Zero (GFANZ) and the Net-Zero Banking Alliance (NZBA).

The statement critiques the Glasgow Financial Alliance on Net Zero (GFANZ) for a lack of evidence regarding its impact on member emission trajectories and calls on leaders Mark Carney and Michael Bloomberg to pressure members to stop financing fossil fuels.

The document analyzes the role of major US banks in financing the global coal industry, highlighting a gap between their public climate pledges and their actual financial activities. It argues that weak corporate financing policies allow funds to continue flowing to coal developers despite net-zero commitments.

The text acknowledges a personal statement by three GFANZ leaders calling for an end to new coal project financing but argues that this must be converted into an official GFANZ position. It further asserts that GFANZ sector-specific sub-alliances should update their guidelines to align with the Race to Zero requirement to phase out support for unabated fossil fuels.

The statement criticizes the Glasgow Financial Alliance for Net Zero (GFANZ) and its member alliances for a lack of urgency in meeting the '50x30' target of halving emissions by 2030. It highlights that most alliances lack near-term targets, allow the use of emission intensity metrics instead of absolute emissions, and fail to prohibit the financing of fossil fuel expansion.

The report alleges that Brookfield Asset Management oversaw the deforestation of approximately 9,000 hectares of the Brazilian Cerrado between 2012 and 2021 across eight farms, subsequently selling these assets in a 'slash and sell' strategy. It further details a case where a Brookfield-controlled firm was fined R$800,000 for slave labour offences at Fazenda Colorado and an attempt to evict the Kayabí Indigenous community from ancestral lands in the Amazon via the company Agropecuaria Vale do Ximari. The document highlights a contradiction between these actions and the public roles of Brookfield Chair Mark Carney, a co-founder of the Glasgow Financial Alliance for Net Zero (GFANZ), and the firm's ESG policies. It argues that voluntary initiatives like GFANZ are insufficient and calls for mandatory government legislation on environmental and human rights due diligence for the financial sector.

The document provides data on investments and financing from French GFANZ members in fossil fuel expanders. Amundi Asset Management held the highest total investments at US$ 17,006 million, while BNP Paribas provided the highest total financing at US$ 7,096 million.

The document details the negative impacts of Harita Group's nickel operations on Obi Island, including marine pollution, forced relocation of residents, and workplace fatalities. It highlights the company's reliance on coal-fired power plants (PLTU) and argues that the IPO of PT Trimegah Bangun Persada Tbk (NCKL) enables further destruction. The text specifically criticizes investors like Glencore and Fidelity International, as well as several global banking underwriters, for breaching net-zero and Paris Agreement commitments by supporting the company.