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Alternative Market Briefing

$11tn alliance calls on private market asset managers to prioritize climate

Friday, November 25, 2022

Laxman Pai, Opalesque Asia:

Private markets' asset managers are "not up to speed" on integrating climate considerations into investment decisions, prompting a call to action by the UN-convened Net Zero Asset Owner Alliance (NZAOA).

The asset owners alliance representing more than $11 trillion has warned private equity firms and other alternative managers handling unlisted assets to make sure they do not fall behind the rest of the investment industry in reducing financed emissions.

NZAOA released a paper 'Call to Action to Private Market Asset Managers', outlining its recommendations for addressing climate risk. The recommendations cover private equity (PE), real estate equity, infrastructure equity, and private debt.

While unmitigated climate change presents an existential risk to the core business of asset owners, private markets are well-positioned to contribute to risk management. Therefore, this latest call to action is meant to encourage all asset managers (and especially those that are yet to sufficiently address climate risk) to raise their level of climate ambition.

Patrick Peura, Engagement Track Co-Lead, NZAOA and ESG Engagement Manager, Allianz SE, said:"Among private asset managers, there is the diversity of approaches to climate change that reflects their varied organizations-this is positive. However, each of these approaches should have the interests of their asset owner clients at the core and should meet their clients' min......................

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