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Major investors to reduce portfolio emissions 25-30% by 2025, inaugural Net-Zero Asset Owner Alliance Progress Report finds | |
admin | |
2021-10-20 | |
发布年 | 2021 |
语种 | 英语 |
国家 | 国际 |
领域 | 资源环境 |
正文(英文) |
20 October 2021 - Less than two weeks away from COP26, the UN-Convened Net Zero Asset Owner Alliance launches its inaugural, biennial Progress Report, highlighting that 29 of its member investors have committed to reduce portfolio emissions by 25-30% by 2025 across three asset classes. This range is higher than the targets set by the inaugural Target Setting Protocol, published in January (-16 to -29% by 2025). The Alliance also welcomes six new members for a total of 56: Japan’s Nippon Life, Sumitomo Life and Meiji Yasuda Life Insurance announced membership 15th October 2021, while the Netherlands’ Pensioenfonds Detailhandel, Germany’s SparkassenVersicherung, and Austria’s UNIQA announced today. The Alliance has grown in just two years from 12 members managing US$2.4 trillion to a membership of 56 investors, collectively managing US$9.3 trillion in assets. With further new members in the pipeline, it is on track to reach US$10 trillion assets under management (AUM) by COP26. The three new Japanese insurance companies joining the Alliance come after Dai-ichi Life Insurance Company joined in March, marking a significant expansion into Japan. The Alliance welcomed its first Africa-based member last month, when African Risk Capacity Ltd, a specialized agency of the African Union, joined. Only asset owners that commit to achieving net-zero portfolios by 2050, and that establish intermediate targets every five years in line with the Paris Agreement’s goal of limiting warming to 1.5°C, can participate in the Alliance. This represents a rapid growth in asset owners leading by example, and not asking of real economy companies what they aren’t already asking of themselves.
Members’ first ever short-term decarbonization targets The Progress Report, launched at the Net Zero Future: Credible Ambition and Solutions roundtable with Selwin Hart and UN Climate Envoy Michael Bloomberg, outlines the intermediate emissions reductions targets set by investors as part of the 2025 Alliance Target Setting Protocol. The Protocol guides how individual members will set science-based emission reduction targets, achievable in the next five years, informed by IPCC 1.5°C no and low overshoot pathways. These interim targets have been submitted by 29 Alliance members, as newly joined members in the last 12 months are yet to record their targets. Members have 12 months from joining the Alliance to set their interim targets, with the cut-off point for inclusion in the Progress Report being 30 June 2021. Günther Thallinger - Allianz SE Board Member & Chair UN-Convened Net-Zero Asset Owner Alliance said: “The Alliance was formed because we believe asset owners have a unique role in the global economy and financial systems. We want to signal that we are ready to work on the development of assets. We are willing to bring sustainability targets at the level of financial targets and are ready to work on the long-term transformation of the economy. We also want to show that we are prepared to lead the way by first changing ourselves and then to reach out to others to join us. We encourage all asset owners to join us in our commitment to align our portfolios with a 1.5°C no/low overshoot trajectory, to set interim targets and to work together towards a sustainable future.” Fiona Reynolds, CEO at the Principles for Responsible Investment, said: “As COP26 rapidly approaches, increased investor commitment and action in the race to net zero is critical. The release of the Asset Owner Alliances’ progress report highlights the initiative’s continued growth. Members are not just calling on others to act but are starting to pave the way, by aligning their own portfolios and practices with net zero - including by publishing 2025 interim targets. This focus on near-term goals is vital in driving timely action on net zero and ensuring targets are hit by 2050. This work can serve as a clear example of emerging good practice and is well placed to provide a blueprint for firms across the investment landscape on how to effectively report their progress. However, we need to go further faster, and hope the momentum of the Asset Owner Alliance will help to inspire greater action from investors as well as businesses and governments at COP26.” Michael R. Bloomberg, UN Secretary General’s Special Envoy for Climate Ambition and Solutions and Founder of Bloomberg LP and Bloomberg Philanthropies, said: “Just days away from the G20 Summit and COP26, more major investors are stepping up to set bold short-term targets and accelerate the urgently needed transition to clean energy. The Asset Owner Alliance is growing because firms recognize that building strong economies and fighting climate change really do go hand in hand. And the more that nations collaborate with the private sector in raising their climate ambitions, the faster the world can achieve both the economic and health benefits of net-zero emissions.” The 29 out of 56 Alliance members have committed to:
Financing change, engagement and policy tracks In addition, as part of the Alliance’s Financing Transition’ track, the Alliance requires members to report progress in the amount of financing they have provided to climate solutions. The Progress Report reveals asset owners are currently invested in climate solutions an average 4% of AUM. The report also gauges progress against other tracks covered by the Alliance’s work.
NOTES TO EDITORS About the UN-convened Net-Zero Asset Owner Alliance About UNEP FI About the UN Environment Programme (UNEP) For more information please contact *This press release was updated on 26 October 2021 to correct the value of assets under management |
URL | 查看原文 |
来源平台 | United Nations Environment Programme |
文献类型 | 新闻 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/341109 |
专题 | 资源环境科学 |
推荐引用方式 GB/T 7714 | admin. Major investors to reduce portfolio emissions 25-30% by 2025, inaugural Net-Zero Asset Owner Alliance Progress Report finds. 2021. |
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