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Laxman Pai, Opalesque Asia: Net Zero Asset Managers (NZAM) initiative now has net-zero commitments from 291 money managers with a collective $66 trillion in assets under management.
Of the 291 asset managers, 169 have disclosed initial targets for the proportion of assets managed in line with achieving net zero by 2050 or sooner, said the NZAM report issued during COP27, the U.N. climate conference.
According to the report, the 68 latest asset managers disclosing targets represent a collective $21.8 trillion of the $55.3 trillion managed by firms that have set targets since the initiative launched two years ago.
Firms have committed an average of 39% of their AUM to net zero by 2050, with 63 managers committing more than 75% of their assets.
The majority of targets currently relate to listed equity and fixed-income assets, as target-setting methodologies are more widely available for these asset classes, while private equity and infrastructure are among some of the least covered financial spaces.
The initial targets are only a starting point and represent what asset managers can feasibly commit to today.
Collectively signatories have now committed on average 39% of assets to net zero by 2050, with all NZAM signatories committing to ratchet up their assets committed to net zero with a view to reaching 100%.
Achieving this, however, is dependent on numerous factors including the mandates agreed upon with clients, clients' and managers' regulatory...................... To view our full article Click here
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