Alliance of asset owners with trillions in assets sets higher & short-term decarbonization targets on eve of COP26
"Net-zero Asset Owner Alliance members to cut portfolio emissions 25-30% by 2025", 20 Oct 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 reducing 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 on 15th October 2021, while the Netherlands’ Pensioenfonds Detailhandel, Germany’s SparkassenVersicherung, and Austria’s UNIQA announced today... [growing to] US$9.3 trillion in assets... The Progress Report outlines... [m]embers’ first ever short-term decarbonization targets...