AllianzGI joins the Net Zero Asset Managers Initiative

Recognizing the urgency to tackle climate change, AllianzGI announces its commitment to support the goal of net zero greenhouse gas emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5°C,  by joining the Net Zero Asset Managers initiative. As part of the initiative, AllianzGI is committing to:

• Work in partnership with asset owner clients on decarbonisation goals, consistent with an ambition to reach net zero emissions by 2050 or sooner across all assets under management;
• Set an interim target for the proportion of assets to be managed in line with the attainment of net zero emissions by 2050 or sooner; and
• Review their interim target at least every five years, with a view to ratcheting up the proportion of AUM covered until 100% of assets are included.

“Climate change is one of our planet’s most pressing challenges, and AllianzGI believes that asset managers should take a more active role. Following our recent announcement of our new stewardship approach: Climate engagement with outcome, aimed at engaging with companies on the climate transition pathway towards a low carbon economy, we are pleased to be joining the Net Zero Asset Managers initiative. This is another milestone in our sustainability pathway, that complements the commitment made by Allianz Group in 2019”, comments Tobias Pross, CEO of Allianz Global Investors.

This new commitment comes as AllianzGI is accelerating its sustainable investment drive. 74 of its equity, fixed income and multi-asset funds recently joined its current sustainable investment offering, and, for a number of funds, AllianzGI set the bar even higher to support its ambitions on addressing climate change by launching a dedicated climate engagement approach. 

The Climate Engagement with Outcome approach represents further development in AllianzGI’s proactive stewardship approach and aims to engage with companies on the climate transition pathway towards a low carbon economy. Fund managers will actively engage with the top 10 absolute carbon emitters (scope 1 and 2) within their portfolio as a proxy for climate impact. If the issuer does not respond to requests or does not show an improvement effort in their climate pathway, divestment will be considered in the escalation process.