- Paris Aligned Asset Owners group grows to 50 with combined assets under management of USD 2.8 trillion
- New signatories to the initiative include three significant New York City pension funds and four New Zealand Crown investors, boosting representation from outside of Europe
- Investors commit to achieving net zero portfolio emissions by 2050 or sooner, engaging with companies and policy makers with this target in mind, and increasing investment in climate solutions
- Six existing signatories have also published initial net zero targets and objectives for the first time
Ahead of COP26 starting in Glasgow this week, 10 new asset owners have joined the existing 40 signatories to the Paris Aligned Investment Initiative’s Net Zero Asset Owner Commitment.
New signatories include three significant New York City pension funds – the New York City Employees’ Retirement System (NCERS), New York City Teachers’ Retirement System (TRS) and New York City Board of Education Retirement System (BERS) – along with four New Zealand Crown investors – the Accident Compensation Corporation, Government Superannuation Fund, National Provident Fund and NZ Super Fund – as well as Barclays Bank UK Retirement Fund, HSBC Bank Pension Trust and West Midlands Pension Fund in the UK. Following these latest additions, the initiative now includes 50 asset owners, collectively responsible for more than USD 2.8 trillion in assets.