Launched in September 2019 at the United Nations’ Climate Action Summit, the Net-Zero Asset Owner Alliance brings together insurers and pension funds who commit to making their investment portfolios carbon neutral by 2050. By targeting the transition of their portfolios to net zero greenhouse gas emissions by 2050, the members of the Alliance wish to help limit global warming to 1.5°C in line with the Paris Agreement.
The current members of the Alliance are Alecta, Allianz, AMF Pension, AXA, Aviva, Caisse des Dépôts et Consignations (CDC), Caisse de Dépôt et Placement du Québec (CDPQ), CalPERS, CNP Assurances, Folksam Group, FRR, Nordea Life and Pension, PensionDanmark, Storebrand, SwissRe and Zurich. The Alliance wants to continue to bring together other institutional investors in order to quickly achieve a critical size, and thus play a key role in decarbonising the global economy and investing in climate change resilience.
As part of this long-term commitment, CNP Assurances and the other members of the Alliance will take into account advances in available scientific knowledge, particularly the conclusions of the IPCC, and will regularly report on the progress made by setting interim objectives every five years to 2050.
Joining the Alliance involves implementing three action levers: regularly measuring the investment portfolio’s alignment with the Paris Agreement and publishing the progress made, conducting a shareholder dialogue with companies to ensure they are also targeting carbon neutrality, calling for public policies that promote the transition to a decarbonised economy. The commitment of Alliance members to carbon-neutral portfolios is indeed based on the assumption that governments will fulfill their own commitments to meeting the objectives of the Paris Agreement.
"We are pleased to contribute, together with the other members of the Alliance and under the aegis of the United Nations, to this remarkable initiative to limit global warming and meet the objectives of the Paris Agreement. We want to work with all French asset-owners to create a real dynamic and achieve carbon neutrality in our portfolios by 2050", said Antoine Lissowski, Chief Executive Officer of CNP Assurances.
Information on the Alliance is available on www.unepfi.org/net-zero-alliance.