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Laxman Pai, Opalesque Asia:

Asset managers have so far committed $16 trillion of assets to achieve net-zero greenhouse gas (GHG) emissions by 2050 or sooner, 39% of their total assets, said a report.

The latest report from the Net Zero Asset Managers (NZAM) Initiative, which has 273 signatories who together have more than $61trn in assets under management (AUM), further said that this sum represents approximately 39% of those managers' assets - up from 35% when the first set of targets was published at COP26.

"The latest targets mean that, collectively, approximately USD 16 trillion - out of a possible USD 42 trillion managed by the asset managers who have set targets to date - is now committed to be managed in line with achieving net-zero by 2050 or sooner, and subject to targets consistent with a fair share of the 50% global emission reduction by 2030 identified as necessary in the IPCC special report on global warming of 1.5°C," it explained.

Asset managers who have set these targets include BlackRock (77% of total AUM initially committed to be managed in line with net zero), Danske Bank (68% of total AUM), and Vanguard (just 4% of total AUM).

Some managers who had already set targets, including AXA Investment Managers and Wellington Management have demonstrated greater ambition by updating their initial targets from November 20211.

Both AXA and Wellington have increased their targets for the proportion of assets managed in line with achievi......................

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