The Paris Aligned Asset Owners initiative, an international group of asset owners committed to supporting the goal of net-zero greenhouse gas emissions by 2050 or sooner, has published its first Progress Report showcasing the steps asset owners are taking to reach their net-zero goals. The initiative has developed the net zero investment framework which is being used by asset owners and fund managers around the world to deliver on their net zero commitments. The framework provides a comprehensive way to ensure consistency across the investment industry.
Adam Matthews, Chief Responsible Investment Officer at the Church of England Pensions Board, Co-chairs the Paris Aligned Asset Owners initiative steering group.
Alongside the Progress Report, initial target disclosures have also been published for a further 13 asset owners taking the total number of asset owners to 40 representing over since the initiative launched in March 2021.
Asset owners include pension and superannuation funds, and increasingly occupy a systemically crucial position in the process of aligning financial flows to net zero by 2050.
Adam Matthews, PAII Steering Group Co-Chair and Chief Responsible Investment Officer, Church of England Pensions Board:
“The Paris Aligned Asset Owners initiative has been an enormously important, practical and collaborative forum for developing best practice for investors committed to supporting the goal of net zero greenhouse gas emissions by 2050 or sooner. As an asset owner, we will always act in the best interests of our beneficiaries and take decisions independently – however, it has been extremely valuable to see the different approaches taken by other investors, to be able to share what works and to learn as we individually work to achieve our net zero goals.”
As of November 2022, there are 57 Paris Aligned Asset Owners from Europe, North America, and Oceania. Paris Aligned Asset Owners is governed by a steering group of nine asset owners, supported by four regional investor networks. Since 2021, the initiative has been a partner to the UN Climate Champion’s Race to Zero campaign and a member of the Glasgow Finance Alliance for Net Zero (GFANZ).