ESG & Investing
A $9.5 Trillion Investor Group Wants Private Market Reforms
- Net Zero Asset Owner Alliance says opacity is a concern
- Demand comes as private credit to oil and gas industry booms
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Global ESG investors with $9.5 trillion under management say it’s time to demand more accountability from private markets, amid evidence they’re increasingly absorbing fossil-fuel assets.
The Net Zero Asset Owner Alliance, whose 89 members include CalPERS, Zurich Insurance and Munich Re, is expanding its protocol to include all private asset classes. It previously excluded debt funds, directly held real estate debt funds and residential mortgage loans. The update, part of an ongoing expansion of asset classes targeted by NZAOA, means investors agree to a series of measures that add pressure on private markets to cut portfolio emissions.