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Pimco, Fidelity Among Firms Devising Net-Zero Investing Standard

A group of investors managing a combined $33 trillion has developed what it hopes will become the global standard for net-zero investing.

Pension funds and asset managers contributed to the development of the “Net-Zero Investment Framework” through an initiative of the Institutional Investors Group on Climate Change, according to a statement Wednesday. The idea is to come up with a common approach to decarbonize investor portfolios and the wider economy, and thereby contribute to keeping global warming below 1.5 degrees Celsius, the more ambitious target of the Paris climate accord.