UN-backed initiative to drive portfolio companies to carbon neutrality by 2050
>250 Mio. EUR
In operation since/from: 2019
At the United Nations Climate Change Summit in New York in September 2019, the UN launched the Net-Zero Asset Owner Alliance. The members of this group commit to reduce the carbon emissions of their investment portfolios to net-zero by 2050. By this, the Alliance, consisting of the world’s largest pension funds and insurers, aims to do its share in limiting global warming to 1.5°C compared to pre-industrial times.
Taking into account the best available scientific knowledge including the findings of the Intergovernmental Panel on Climate Change (IPCC), the signatories are to report regularly on their progress, including establishing intermediate targets every five years in line with the Paris Agreement. Their commitment must be embedded in a holistic ESG approach, incorporating but not limited to, climate change, and must emphasize GHG emissions reduction outcomes in the real economy. Members will seek to reach this commitment especially through advocating for, and engaging on, corporate and industry action, as well as public policies for a low-carbon transition of economic sectors.
Success Factor | Hero Moment
The Alliance was initiated by Allianz together with eleven other international insurers and pension funds and the Finance Initiative of the United Nations Environment Programme (UNEP FI), the Principles for Responsible Investment (PRI), WWF, as well as the Mission 2020 campaign led by the former UNFCCC Executive Secretary Christiana Figueres. Since then, many large asset owners have joined the group. By early 2020, the alliance already represented total assets under management worth more than four trillion US dollars.
Allianz SE, Germany
Other Involved Stakeholders
UNEP FI, UN PRI, UNFCCC-M2020, WWF and more than 20 international asset managers
UNO, Private Initiative, Sustainable Investing