Industry alliance calls on PE to support climate change objectives
The Net-Zero Asset Owner Alliance (Alliance) has requested GPs align their investments with a 1.5c pathway and address climate change across all their business activities.
The initiative, which has the backing of 291 signatories as of 9 November 2022 and $66trn AuM, including Bregal, ClearBridge and EQT, has called upon the wider asset management industry but included specific requests for private equity.
General aims proposed by the consortium include:
- Public commitments to set net-zero targets on financed Scope 1 and 2 emissions by 2025
- Offering corresponding products reflecting this ambition at a fund level
- Establishing a time-bound plan including decarbonisation targets on a sector level for portfolio companies by 2025
- Adhering to asset class specific requests.
On a portfolio level, the Alliance asked for:
- Disclosure of available...