USA – In a landmark move investors responsible for US$ 2.4 trillion have launched a Net-Zero Alliance targeting carbon-neutral investment portfolios by 2050.
The United Nations-convened Net-Zero Asset Owner Alliance was launched today at the UN Secretary-General’s Climate Action Summit in New York. Allianz, Caisse des Dépôts, La Caisse de dépôt et placement du Québec (CDPQ), Folksam Group, PensionDanmark and Swiss Re started the journey earlier this year. Alecta, AMF, CalPERS, Nordea Life and Pension, Storebrand, and Zurich have since joined as founding members.
“Mitigating climate change is the challenge of our lifetime. Politics, business and societies across the globe need to act as one to rapidly reduce climate emissions. We, as asset owners, will live up to our responsibility and, in dialogue with the companies in which we invest, steer towards low-carbon business practices. We’ve already started and, by 2050, our portfolios will be climate neutral,” said Oliver Bäte, Allianz’s CEO.
The Alliance was convened by UNEP’s Finance Initiative and the Principles for Responsible Investment, is backed by WWF and is part of the Mission 2020 campaign.