Net-Zero Asset Owners Set Intermediate Targets, Expand Global Impact
The Net-Zero Asset Owner Alliance (NZAOA) held its Annual General Meeting on 29-30 September, marking significant progress in its journey towards aligning institutional investments with the Paris Agreement's net-zero goal by 2050. The meeting, convened by PRI, WWF, and Global Optimism, was the first in the financial industry to define intermediate targets and provide annual progress reports.
The NZAOA, comprising 86 institutional investors managing US$9.5 trillion in assets, has made strides in managing climate risks and opportunities. The conclusion of technical foundations for this was acknowledged at the meeting. A robust Target Setting Protocol (TSP), now in its fifth iteration, has been established to guide asset owners in this process. The TSP is complemented by multiple resources created by asset owner practitioners, demonstrating thought leadership available to all investors.
During the meeting, asset owners explored future focus areas. These include climate adaptation and resilience, and growth in underrepresented geographical regions. The NZAOA aims to expand its impact globally.
The NZAOA's Annual General Meeting highlighted the alliance's commitment to combating climate change. With a clear roadmap and resources for managing climate risks, the alliance continues to grow and adapt, ensuring its members stay at the forefront of net-zero investing.
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