NZFSPA Reshaped: Net Zero Alliance Shutters Standalone Activities
29 January 2026
The Net Zero Financial Service Providers Alliance (NZFSPA) has decided to reorganise almost five years since its 2021 launch and conclude activities as a standalone initiative.
The alliance’s stock exchanges, research and data providers and other members will now work towards their net zero goals independently of the NZFSPA, with some switching to other existing working groups and projects. Minerva Analytics was one of the NZFSPA’s founding members will continue to produce a climate change report that align with the framework developed by the alliance. Our most recent report is available here.
Key Client Takeaways:
NZFSPA Ceases Standalone Operations
- The alliance is winding down as an independent initiative, with members intended to continue net zero efforts through other similar groups or independently.
Minerva to Continue Net Zero Leadership
- Minerva Analytics, a founding NZFSPA member, will maintain its climate‑aligned reporting, services and science‑based emissions‑reduction commitments.
Exchange Group Extended Under UN
- The NZFSPA’s Exchange Group will continue as the Net Zero Exchange Group – SSE Climate Leaders, expanding its membership and maintaining net zero reporting frameworks under UN SSE.
“The NZFSPA has been a great opportunity to develop new insights and evolve our approach to climate governance, we look forward to continuing that journey with the PRI in the future,” said Sarah Wilson, CEO at Minerva Analytics.
Minerva Analytics was one of the NZFSPA’s founding members and its only proxy advisor founding member. We decided to commit to the group to not only transition our own operations to net zero in line with science-based targets but to enhance our service offerings to better help our clients transition to net zero.
The NZFSPA notably developed and published target-setting frameworks which have sought to drive innovation, transparency and product evolution in the financial services sector. It also marked the first time that financial service providers came together to act on the transition to net zero greenhouse gas emissions by 2050 or sooner
The NZFSPA comprised four sub-groups: auditors; index providers; research and data providers; and stock exchanges. The alliance’s research and data and index provider group members now have been invited to participate in existing PRI climate workstreams. Meanwhile, its exchange group will operate standalone initiative under the convening of the United Nations Sustainable Stock Exchanges, operating as the Net Zero Exchange Group – SSE Climate Leaders.
Minerva provides a comprehensive suite of sustainability, ESG and climate‑focused stewardship services designed to help investors meet their net zero objectives. These include ESG and climate data collection and analysis, climate change analytics and reporting, SDG alignment, ESG and climate screening, customised climate‑related voting policy development, climate‑focused engagement and sustainable index and benchmark creation.
Minerva also supports clients with Paris‑aligned stewardship, transition‑plan assessments, and the integration of climate considerations into voting, engagement, and stock‑lending practices. To meet net zero expectations, Minerva helps clients evaluate GHG emissions, assess company alignment with the Paris Agreement, develop net zero voting and engagement frameworks and design climate‑aligned investment strategies.
In parallel, Minerva has made its own commitments, including science‑based reduction targets for Scope 1, 2 and 3 emissions and the development of internal policies, services and operational improvements that strengthen climate accountability and support progress toward a net zero future.
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Last Updated: 29 January 2026