The UN-convened Net-Zero Asset Owner Alliance has added the Church of England’s three national investment bodies and Italian insurance group Generali to the fold, bringing the total assets managed by Alliance members to over $4.3tr.

The group of 18 pension funds and insurers are committed to decarbonise their portfolios to net-zero emissions by 2050 as the Alliance works closely with portfolio companies to change their business models, adopting climate friendly practices and ideally setting a net-zero target.

Eric Usher, Head of UNEP FI, said: “We welcome the Church of England national investment bodies and Generali to the Asset Owner Alliance. All members are showing an extremely high level of commitment to portfolio decarbonisation, as they hold themselves accountable on progress by setting and publicly reporting on intermediate targets in line with the Paris Agreement.”

The Alliance will be using its collective voice at Davos to highlight the urgent climate action needed to the world’s policymakers, and its members will ramp up engagement with the companies in which they are invested, working together with initiatives such as the UN Global Compact Business Ambition for 1.°C, the Investor Agenda, the Science Based Targets initiative, Climate Action 100+, and the WEF Mission Possible Platform.

The Church of England is also launching an energy rating system to monitor the carbon footprint of its almost 40,000 buildings, as General Synod considers a major new proposal to reach net-zero CO2 emissions in its operations. Members of Synod, which meets in London next month, will debate a motion calling on all parts of the Church of England - from parishes to national bodies - to aim for ambitious year-on-year reductions in emissions to reach net-zero by 2045 at the latest.

Share Story: