The Net Zero Financial Service Providers Alliance (NZFSPA) is reorganising following the publication of its target-setting frameworks, with several functional groups moving to pursue their activities independently of the initiative.
Under the changes, stock exchanges, research and data providers, index providers and auditors will continue their work outside the NZFSPA, including by integrating into existing forums and working groups. The shift comes after the alliance completed the development and publication of its core target-setting frameworks.
Since its launch, Net Zero Financial Service Providers Alliance has produced frameworks aimed at promoting innovation, transparency and product evolution across the financial services sector. The alliance said the frameworks remain a key reference point for service providers seeking to develop net-zero-aligned product strategies and to support investors as they implement climate objectives.
Going forward, members of the NZFSPA’s research and data provider group, as well as index providers, will be invited to participate in existing climate workstreams led by Principles for Responsible Investment (PRI). These workstreams are intended to give service providers structured opportunities to gather feedback from asset owners and asset managers on how to improve the quality, consistency and accessibility of climate-related data and information.
The alliance said this approach will support peer learning and cross-sector engagement as participants focus on implementing firm-level objectives and as investor needs and market priorities continue to evolve.
Meanwhile, the NZFSPA’s exchange group will continue its activities with support from the UN Sustainable Stock Exchange initiative, operating under a new banner as the Net Zero Exchange Group – SSE Climate Leaders. The group has tripled in size since the NZFSPA was launched, with all members adopting the target-setting framework and reporting against it on an annual basis.
Given its growth and established reporting practices, the exchange group has reached a level of maturity that warrants a more exchange-focused structure and set of activities, the alliance said.
The NZFSPA added that the reorganisation reflects the ongoing commitment of participating service providers to ambitious climate action and accountability across the financial system, and to strengthening the tools and data needed for investors to manage climate-related risks and opportunities effectively.
