An influential investor group with $10tn under its control has boosted its efforts on climate change, with a pledge to slash environmentally damaging emissions from portfolios by half as soon as 2030.
The UN-convened Net-Zero Asset Owner Alliance, made up of 69 large institutions, said its members would aim to reduce emissions linked to their investments by between 49 per cent to 65 per cent by 2030, after including a broader range of carbon-intensive sectors within its target framework.
The latest commitment is an expansion on an inaugural plan, set out in January 2021, that aimed for a reduction in portfolio emissions by 25 per cent across listed equities, corporate bonds and real estate by 2025.