To support a whole-economy transition to net zero, financing and related services across four key transition financing strategies need to scale. TheIPCC estimates that a three- to six-fold increase in financing is needed by 2030 to limit warming to 1.5 degrees C.2 The private financial sector has the scale to mobilize the majority of the necessary capital and enable real-economy decarbonization, with more than 675 financial institutions, representing 40% of global financial assets, independently committed to the goal of net zero by 2050 through membership in one of the sector specific financial alliances comprising GFANZ.The transition to net zero presents financial institutions with unprecedented opportunities to scale Transition Finance across all sectors of the economy. Decarbonization efforts by the real economy, supported by government policy and private finance all play a role in driving TransitionFinance. GFANZ defines Transition Finance as investment, financing, insurance, and related products and services that are necessary to support orderly real-economy transition to net zero across four financing strategies:31. Climate Solutions: Entities and activities that develop and scale climate solutions;2. Aligned: Entities that are already aligned to a 1.5 degrees C pathway;3. Aligning: Entities committed to transitioning inline with 1.5 degrees C-aligned pathway; or4. Managed Phaseout: The accelerated managed phaseout of high-emitting physical assets.The 2023 GFANZ Secretariat Technical ReviewNote: Scaling Transition Finance and Real-EconomyDecarbonization (the Note) expanded upon the GFANZ Net-zero Transition Plan framework (NZTP)by identifying principles-based Attributes thatcan be applied to assess potential opportunities,portfolio holdings, and clients for applicability of the four key transition financing strategies.