Global Net Zero Asset Managers Initiative Grows

The initiative now has a total of 73 signatories representing 32 trillion US-Dollar in assets under management (AUM). Following the launch of the initiative in December 2020, 43 additional asset managers are making new, enhanced commitments to support the goal of net-zero greenhouse gas emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5 °C. As reported, the breadth of signatories signals the determination of investors to play their part in achieving a net-zero and resilient future and the global significance of the Net Zero Asset Managers initiative.

The signatories have committed to set interim targets for 2030, consistent with a fair share of the 50 percent global reduction in greenhouse gases identified by the Intergovernmental Panel On Climate Change (IPCC), the press release said. “Supporting the acceleration of action, signatories will submit an interim target, within a year of joining the initiative, for the proportion of assets to be managed in line with reaching net zero emissions by 2050 or sooner.” Asset managers joining the initiative commit to transparent and rigorous accountability.

They would annually report progress against the Task Force for Climate-related Financial Disclosures (TCFD) recommendations, including setting out a climate action plan and submitting this to The Investor Agenda via its partner organizations for review to ensure the approach applied is based on a robust methodology, consistent with the Race to Zero criteria, and action is being taken in line with the commitments.

Investor networks
The initiative is managed globally by six founding partner investor networks: Asia Investor Group on Climate Change (AIGCC), CDP, Ceres, Investor Group on Climate Change (IGCC), Institutional Investors Group on Climate Change (IIGCC) and Principles for Responsible Investment (PRI). In turn, the initiative is endorsed by The Investor Agenda, of which the investor networks are all founding partners, along with the United Nations Environment Programme Finance Initiative (UNEPFI). Furthermore, the initiative is now accredited by the United Nations Framework Convention on Climate Change (UNFCC) Race to Zero campaign.

(Published in GLOBAL RECYCLING Magazine 2/2021, Page 9, Photo: CapeCom / )