Fund Managers’ Net-Zero Path ‘Irrevocably Flawed,’ Study Finds
- Universal Owner says asset managers’ targets are inconsistent
- The report focuses on goals set by 43 money-management firms
Most asset managers that promised to eliminate their financed emissions by 2050 have failed to submit plausible plans toward achieving that goal, according to a fresh analysis of the process.
“Pledges submitted to the Net Zero Asset Managers Initiative (NZAMI) are inadequate, and only commit most members to reduce a small percentage of greenhouse gas emissions,” environmental think tank Universal Owner said in a report published Tuesday. Overall, the target-setting “process is irrevocably flawed and fails to commit asset manages to act on emissions,” it said.