Aegon Asset Management has become the latest fund manager to sign up to the Net Zero Asset Managers initiative.
Its parent company, Aegon NV has also signed up to the Net Zero Asset Owner Alliance, a United National convened group of institutional investors.
These announcements come as there is renewed attention on carbon emissions, thanks to the COP26 meeting in Glasgow, which is looking to step-up global efforts to tackle climate change.
To become a signatory to NZAMI Aegon has pledged to support the goal of net zero greenhouse gas emissions from its investment portfolios by 2050 or sooner – in line with global efforts to limit global warming to 1.5 degrees celsius.
It is also committed to working with clients on decarbonisation, supporting them with their own climate ambitions.
To meet these commitments Aegon will look to increase the share of assets managed in-line with the attainment of net zero by 2050 or sooner – beginning with those managed on behalf of other Aegon Group companies following their own commitment to net zero.
It will also prioritise reductions in the real economy by continuing its engagement programme, using its influence with investee companies to encourage continued greenhouse gas measurement, targets and reduction.
Aegon AM chief executive Bas NieuweWeme says: “We are all very aware of the impact emissions are having on our planet’s climate and the need to act now before it is too late. As investment managers we believe we can play a vital role by encouraging those companies in which we invest to also reduce theirs and move to zero emissions, for the sake of future generations.”
The Net Zero Asset Managers initiative was launched in December 2020.