• 43 asset managers share first interim targets for the proportion of assets managed in line with achieving net zero by 2050, and set shorter term targets for reducing emissions within their investments
  • Signatories disclose that 35% of their total assets under management, totalling USD 4.2 trillion out of a possible USD 11.9 trillion, is being managed in line with achieving net zero by 2050
  • A record 92 new asset managers representing USD 10.8 trillion in assets join initiative, bringing the total to 220 investors managing USD 57.4 trillion
  • Network partners managing the initiative set out expectations on fossil fuel investment, asking signatories to adopt robust and science-based policies aligned with a 1.5°C scenario

43 investors have disclosed their first interim targets for the proportion of assets managed in line with achieving net zero by 2050, according to a new progress report released today. The asset managers have committed USD 4.2 trillion out of a possible USD 11.9 trillion, meaning that 35% of their total assets under management is in line with net zero.

As signatories to the initiative, asset managers also commit to set interim targets consistent with a fair share of the 50% global reduction in greenhouse gas emissions by 2030, with 15 setting shorter-term targets for 2025. Investors must disclose their initial interim target within a year of joining the initiative and review on a regular basis with a view to increasing the proportion of assets until 100% are included. If this initial target were reflected across all current signatories, more than USD 20 trillion managed would be in line with net zero and subject to 2030 targets by the end of 2022.

The Net Zero Asset Managers initiative Progress Report comes as COP26 begins and at a critical time for increasing investor action on the climate crisis. In addition, a record 92 asset managers representing USD 10.8 trillion in assets are joining the initiative today, bringing the total to 220 investors managing USD 57.4 trillion. These latest numbers indicate that investors representing nearly 60% of the world’s total managed assets are now committed toward achieving the goal of net zero emissions by 2050 or sooner.

New signatories include Eurizon, J.P. Morgan Asset Management, Metrics, Mitsubishi UFJ Trust and Banking, Nikko Asset Management, Nomura Asset Management, Rockefeller Asset Management and Vancity, significantly boosting the representation of Asian and US-based asset managers within the initiative

“Metrics is determined to play a leading role in promoting and assisting with the transition to a low carbon economy. This presents an enormous opportunity and Metrics is committed to ensuring that we both lead by example and ensure our stakeholders have the means to participate in achieving a just and timely transition.” said Andrew Lockhart, Co-Founder and Managing Partner, Metrics.

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 Investor Group on Climate Change (IIGCC) and Principles for Responsible Investment (PRI).

Today, the network partners also published a set of expectations for investors in relation to fossil fuel investment, asking that signatories adopt robust and science-based policies which are aligned with the Intergovernmental Panel on Climate Change (IPCC)’s 1.5°C scenario.

“We welcome the asset managers who have stepped up and committed to reaching net zero emissions, helping the world address the climate crisis. The collaboration of global asset managers is a critical contribution as the world transitions to a decarbonised economy. We look forward to seeing strong action and increasing commitments from investors to achieve their targets.” said Rebecca Mikula-Wright, CEO, the Asia Investor Group on Climate Change (AIGCC) and the Investor Group on Climate Change (IGCC).

Link to full press release