ESG & Investing

Private Equity Gets CO2 Warning From Investors With $11 Trillion

The UN-convened Net-Zero Asset Owner Alliance presses managers to “raise their level of climate ambition.”

Larry Fink, chairman and chief executive officer of BlackRock, right, speaks during the Institute of International Finance (IIF) annual membership meeting in Washington, DC, US, on Wednesday, Oct. 12, 2022. This year's conference theme is "The Search for Stability in an Era of Uncertainty, Realignment and Transformation."Photographer: Ting Shen/Bloomberg

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By Alastair Marsh

November 24, 2022 at 8:00 AM UTC

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Asset owners representing more than $11 trillion are warning private equity firms and other alternative managers handling unlisted assets to make sure they don’t fall behind the rest of the investment industry in reducing financed emissions.

The United Nations-convened Net-Zero Asset Owner Alliance is urging managers of private assets to “raise their level of climate ambition,” according to a report published Thursday by the group. The alliance counts Aviva Plc, California Public Employees’ Retirement System and Swiss Re AG among its 80 members.