Net Zero Asset Managers Initiative triples in AUM with 43 new commitments

The Net Zero Asset Managers Initiative has added 43 new investor signatories who will collaboration with clients to achieve 2030 emissions reduction targets and reach net-zero by 2050 or sooner.

The Net Zero Asset Managers initiative now has a total 73 signatories representing $32tr in AUM, a figure that represents 36 per cent of the global total.

Ashish Bhutani, CEO, Lazard Asset Management: “The climate crisis we face has societal and financial implications. We have joined the Net Zero Asset Managers Initiative to hold ourselves accountable to deliver on our responsibility to protect our clients’ portfolios from systemic risks such as climate change. Consistent with our fiduciary duty, we will work towards allocating capital to companies with long-term sustainable business practices to deliver better investment outcomes. In partnership with our clients, we will progress towards net zero emissions.”

Asset managers joining the initiative commit to transparent and rigorous accountability. Signatories will 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 organisations 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.

The new signatories include:  Allianz Global Investors, , Aviva Investors, BlackRock, Invesco Limited, Jupiter Asset Management, Lazard Asset Management, Lombard Odier Investment Managers (LOIM), Macquarie Asset Management, Newton Investment Management, NN Investment Partners, Rathbones Greenbank Investments, Royal London Asset Management , Standard Life Aberdeen, and The Vanguard Group.

The Net Zero Asset Managers 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

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