The amount of assets represented by the Net Zero Asset Managers initiative has tripled in recent months and now make up more than a third of the total assets under management worldwide, the organization reported Monday.
International asset manager members of the initiative have committed to supporting the goal of net-zero greenhouse gas emissions by 2050 or sooner. The initiative was launched in December.
With 43 recent additions, the Net Zero Asset Managers initiative now has 73 global asset manager signatories with a collective $32 trillion in assets under management.
The initiative is being managed globally by six founding partners: Asia Investor Group on Climate Change, CDP, Ceres, Investor Group on Climate Change, Institutional Investors Group on Climate Change and Principles for Responsible Investment.
Initiative signatories have committed to set interim targets for 2030. They will annually report progress toward the recommendations of the Task Force for Climate-related Financial Disclosures and submit climate action plans.
"Asset managers should take a more active role" in getting to net zero, Allianz Global Investors CEO Tobias C. Pross said in a joint statement, while RockCreek Group founder and CEO Afsaneh Mashayekhi Beschloss said the firm "is excited "to sign on."
"There has never been a more critical moment than now for investors and asset managers to collaborate and signal the shift to net zero by insisting on transparency and bold action," Ms. Beschloss said.
The new signatories are Algebris Investments, Allianz Global Investors, APG Asset Management, Aviva Investors, BlackRock, Boston Common Asset Management, Boston Trust Walden, Brookfield Asset Management, Capricorn Investment Group, Cardano Holding, Danske Bank Asset Management, Developing World Markets, FullCycle, Invesco, J. Safra Sarasin Sustainable Asset Management, JGP Gestao de Credito & JGP Gestao de Recursos, Jupiter Asset Management, La Banque Postale Asset Management, La Financiere de l'Echiquier, Lazard Asset Management, LGT Capital Partners, Lombard Odier Investment Managers, Macquarie Asset Management, Maitri Asset Management, Majedie Asset Management, Mirova, Montanaro Asset Management, Newton Investment Management, Nissay Asset Management, NN Investment Partners, Nykredit Asset Management, Pemberton Capital Advisors, Rathbones Greenbank Investments, Royal London Asset Management, RockCreek, SAM Investment Holdings, SEB Investment Management, Stafford Capital Partners, Standard Life Aberdeen, Storebrand Asset Management, Terra Alpha Investments, Tikehau Capital and Vanguard Group.