A group of the world’s largest asset owners managing $10.4 trillion said on Tuesday they would step up their response to climate change and aimed to at least halve carbon emissions from their investment portfolios by 2030.
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%.
