Big-Name Institutional Investors Join Hands for Carbon-Neutral Portfolios by 2050

September 26, 2019 | ESG and Sustainability, Investments, News

Driven by climate change imperatives the largest pension funds and insurers in the world formed the Net-Zero Asset Owner Alliance.

Announced at the UN Secretary-General’s Climate Action Summit in progress in New York, the Alliance will address climate change and low-carbon portfolios.

The group intends to do its best to cap the rise in global temperatures to a maximum of 1.5 degrees Celsius. With $2.4 trillion of assets, its members will influence companies in their portfolios to move to low-carbon business practices.

Net-Zero Alliance for low-carbon business models

Members of the alliance include German financial services firm Allianz, French financial institution Caisse des Dépôts, pension fund La Caisse de dépôt et placement du Québec (CDPQ), Swedish insurance firm Folksam Group, Danish pension PensionDanmark, and reinsurance firm Swiss Re.

Additionally, the alliance participates in the Mission 2020 campaign led by Christiana Figueres. She is the former Executive Secretary of the UN Framework Convention on Climate Change.

“It’s encouraging to see asset-owners flex their financial muscle and guide companies they’re invested in towards net-zero emissions,” said Figueres.

Meanwhile, Oliver Bäte, CEO Allianz, said the group would render portfolios climate neutral by 2050. Additionally, he said the group would engage with portfolio companies and steer them towards low-carbon business practices.

The group also committed to reporting on intermediate targets in line with Article 4.9 of the Paris climate accord.

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