Border to Coast joins Net Zero Asset Managers initiative

December, 2021 Print

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Following its commitment to achieving net zero across its investments by 2050, Border to Coast Pensions Partnership joined the global Net Zero Asset Managers initiative in November.

The initiative has brought together 220 investors to mobilise the asset management industry to drive the transition to net zero by providing a forum for sharing best practice.

All signatories to the initiative must commit to supporting the goal of net zero greenhouse gas emissions by 2050. Furthermore, they have undertaken to:

  • Work in partnership with asset owner clients on decarbonisation goals
  • 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
  • Review the interim target at least every five years, with a view to increasing the proportion of AUM covered until 100% of assets are included

Launched in December 2020, the initiative collectively represents asset managers responsible for $57.4 trillion of assets.

Six partners manage the initiative, including the Institutional Investors Group on Climate Change (IIGCC) and the UN Principles for Responsible Investment.

Border to Coast has become a signatory to the 2021 Global Investor Statement to Governments on the Climate Crisis, which calls for measures to end fossil fuel subsidies, phase out thermal coal electricity, and mandate climate risk disclosure.

Representing $52 trillion of assets, this is the largest collective to sign on to such a statement, based on assets under management.

“Climate change is a global systemic risk, and it will take global action to combat it,” said Jane Firth, head of responsible investment, Border to Coast.

“Engagement with companies is key to this, and our own commitment to net zero greenhouse gas emissions by 2050 will play an important role in ensuring that everything we do is aligned to reducing emissions and playing a part in the fight to limit global warming.”

 

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