|
The
69 members of the Net-Zero Asset Owner Alliance, which include
reinsurer Swiss Re, insurer Aviva and pension investor CDPQ,
said they would cut emissions by between 49% and 65% over the
next eight years, from a 2020 baseline.
As part of its second Target Setting Protocol (TSP), the group
said that between 2020 and 2025, its members would aim to reduce
absolute portfolio emissions by between 22% and 32%.
Through the TSP, the group said it had agreed a framework for
reducing financed emissions in the carbon-intensive
infrastructure debt and equity sector, and doubled the business
sectors covered to 14, including chemicals and agriculture.
As some of the biggest investors in companies across the real
economy, the asset owners said they would engage with company
boards to help them align their businesses with the world's
transition to a low-carbon economy.
The group hopes that by sharing its targets and approach, other
asset owners will join its campaign.
“This advanced guidance will help investors already committed to
net-zero to take the urgent shorter-term action that climate
science demands," said NZAOA Chair and Allianz board member
Guenther Thallinger.
"Action is needed now, and every company is challenged to follow
the lead of Alliance members and adjust business models, develop
plans for the transition to a low-carbon, climate-resilient
future, and then implement those plans."
As part of the commitment, the group's members will publish
interim targets on a five-year cycle, he added.
(Reporting by Simon Jessop; Editing by Bernadette Baum)
[© 2022 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
