- Paris Aligned Asset Owners group grows to 40 investors with combined assets under management of USD 2.35 trillion
- New joiners to the initiative include HESTA – the first Australian signatory – as well as number of Danish pension funds, Railpen, Tesco Pension Investment and Elo Mutual Pension Insurance Company
- Investors commit to achieving net zero portfolio emissions by 2050 or sooner, engaging with this target in mind, and increasing investments in climate solutions
- Signatories join at the start of Climate Week NYC 2021, boosting membership of the Race to Zero campaign
12 new asset owners have joined the 28 existing signatories to the Paris Aligned Investment Initiative Net Zero Asset Owner Commitment, bringing the total signatories to the initiatives to 40. Among the new signatories include Australian industry superannuation fund HESTA, along with UK-based London Pension Funds Authority, Railpen and Tesco Pension Investment, and European asset owners AP Pension, AP3, AP7, the Church Pension Fund, Elo Mutual Pension Insurance Company, Ilmarinen, Lægernes Pension and PenSam. Following these latest additions, the initiative now includes 40 asset owners, collectively responsible for more than USD 2.35 trillion in assets.
Investors signing up as Paris Aligned Asset Owners will be joining a collaborative investor-led global forum which supports investors in aligning their portfolios and activities with the goals of the Paris Agreement. They will be committing to decarbonise their portfolios by 2050 or sooner, increase investment in climate solutions and will need to set interim targets and undertake advocacy and engagement in line with net zero goals.