On 21 September 2023, the Fund’s Office of Investment Management (OIM) hosted the UN-convened Net-Zero Asset Owner Alliance Annual General Meeting, with the participation of John Kerry, Special Presidential Envoy for Climate, U.S. Senator Sheldon Whitehouse and UN Special Adviser and Assistant Secretary-General Selwin Hart.

The Alliance is a member-led initiative comprised of institutional investors that have committed to transitioning their investment portfolios to net-zero GHG emissions by 2050 consistent with a maximum temperature rise of 1.5°C above pre-industrial temperatures. The Fund has been a member of the Alliance since July 2020.

Opening the event, Pedro Guazo, Representative of the Secretary-General for the investment of the UNJSPF assets, stated that joining the Net-Zero Asset Owner Alliance had been “a catalytic moment for the Fund’s path to sustainable investments”. The Fund has been able to implement its goals and targets as a result of the direct support received by the Alliance.

During the event, members of the Net-Zero Asset Owner Alliance recognized the power of collaboration and how the Alliance fosters knowledge-sharing and the mobilization of resources to move the needle on the topic of climate change.

Participants exchanged their experiences on international, US, EU, and policies in emerging markets; the implementation of Net-Zero by financial institutions, and the enabling environment for implementing the transition to a Net-Zero economy.

The importance of working together with governments was highlighted as well as the need to be more vocal with partners and other sectors. Participants discussed the value of sending stronger political signals in order to achieve more progress and build more robust regulations.

Participants also agreed on the need to accelerate the race to secure a pathway to clean, secure and affordable renewable energy.

The United Nations-convened Net-Zero Asset Owner Alliance (the Alliance) is an UN-convened, Asset Owner-led Alliance. The members of the Alliance commit to transitioning their investment portfolios to net-zero GHG emissions by 2050 consistent with a maximum temperature rise of 1.5C degrees above pre-industrial temperatures, taking into account the best available scientific knowledge including the findings of the IPCC, and regularly reporting on progress, including establishing intermediate targets every five years in line with Paris Agreement Article 4.9.

The Alliance was established by the United Nations Environment Programme Finance Initiative (UNEP FI) and Principles for Responsible Investments (PRI) with a group of 12 founding members and officially launched to the public on September 23rd, 2019.

To get more details on the meeting, check here.

Pedro Guazo, Representative of the Secretary-General for the investment of the UNJSPF assets. Credit: NZAOA