A $9.5 Trillion Investor Group Unveils Milestone Emissions Cuts

Institutional investors holding a combined $9.5 trillion of assets say they’ve slashed portfolio emissions at a rate that aligns them with the goal of limiting global warming to the critical threshold of 1.5C.

The Net-Zero Asset Owner Alliance, whose signatories include Allianz SE and the California Public Employees’ Retirement System, said in a statement on Wednesday that reduction in greenhouse gas emissions registered by its 88 members was at least 6% on average, annually, since 2018. At that rate, the group will be able to meet the target enshrined in the Paris climate agreement of hitting net zero emissions by mid-century.