Founded in London in 2020, the initiative currently has 30 signatories with USD 9 trillion in assets under management. Asset managers in the alliance will partner with clients to work on decarbonization and set interim targets on the proportion of assets to be managed in line with net zero emissions by 2050. Such targets will be reviewed every five years at least, increasing the proportion until 100% of asset under management is reached.
The initiative recognizes that there is ‘an urgent need to accelerate the transition towards global net zero emissions and for asset managers to play [their] part to help deliver the goals of the Paris Agreement and ensure a just transition.’ Other asset managers are being encouraged to join the alliance and commit to a sustainable future.
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