The Net Zero Asset Managers initiative nears 300 members, representing $66 trillion in assets under management (AUM). The most recent increase is due to 21 companies joining the alliance, including Northern Trust Asset Management and AllianceBernstein, each committing to reaching net zero by 2050 or sooner. The number of initiative companies disclosing initial targets is also increasing.  

 The Net Zero Asset Managers initiative nears 300 members, representing $66 trillion in assets under management. The most recent increase is due to 21 companies joining the alliance, including Northern Trust Asset Management and AllianceBernstein, each committing to reaching net zero by 2050.  

 The number of initiative companies disclosing initial targets is also increasing.  

 Firms have, on average, committed average 39% of their AUM to net zero by 2050. Sixty-three managers have committed more than 75% of their assets. 

 Stephanie Pfeifer, CEO of the Institutional Investors Group on Climate Change: “In less than two years the Net Zero Asset Managers initiative has managed to significantly raise the scale of ambition towards net zero across the global asset management industry. Building on the initiative’s positive start, the focus must now be on supporting managers to increase their targets and turning commitments into action with an emphasis on supporting real world emission reductions – without this, the likelihood of limiting temperature rises to no more than 1.5 degrees becomes more distant.” 

 Source: https://www.investmentweek.co.uk/news/4059881/net-zero-asset-managers-alliance-approaches-300-members