At the United Nations Climate Change Summit in New York in September 2019, the UN launched the Net-Zero Asset Owner Alliance. The members of this group commit to reduce the carbon emissions of their investment portfolios to net-zero by 2050. By this, the Alliance aims to do its share in limiting global warming to 1.5°C compared to pre-industrial times.
Allianz has helped to set up this group consisting of the world’s largest pension funds and insurers, together with the Finance Initiative of United Nations Environment (UNEP FI), the Principles for Responsible Investment (PRI), WWF as well as the Mission 2020 campaign.
At its launch in 2019, the Alliance consisted of twelve asset owners from across the globe, responsible for approximately 2.4 trillion USD of assets under management.