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Border to Coast joins Net Zero Asset Managers initiative

The Top Of A Waterfall Viewed From The South Bank Of The River Tees on The Pennine Way

Following its recent commitment to achieving net zero across its investment by 2050, Border to Coast Pensions Partnership is pleased to announce it is one of 92 investors to have joined the global Net Zero Asset Managers initiative today (1 November).

The initiative, which now numbers 220 investors in total, seeks to mobilise action by the asset management industry to drive the transition to net zero and provides a forum to share best practice and overcome barriers to achieving it.

All signatories have committed to supporting the goal of net zero greenhouse gas emissions by 2050, and have specifically committed their intention to:

  • Work in partnership with asset owner clients on decarbonisation goals;
  • Set an interim target for the proportion of assets to be managed in line with the attainment of net zero emissions by 2050 or sooner;
  • Review the interim target at least every five years, with a view to increasing up the proportion of AUM covered until 100% of assets are included.

Launched in December 2020, the initiative collectively represents asset managers responsible for $57.4trn of assets.

It is managed by six partners including the Institutional Investors Group on Climate Change (IIGCC), of which Border to Coast is a member, as well as the UN Principles for Responsible Investment.

In addition to joining the initiative, Border to Coast has also signed a statement to governments ahead of COP26 backed by 732 other institutional investors from around the world. The 2021 Global Investor Statement to Governments on the Climate Crisis call for measures to end fossil fuel subsidies, phase out thermal coal electricity, and mandate climate risk disclosure.

Representing $52trn of assets, it marks the largest-ever collective assets under management to sign on to such a statement.

Jane Firth, Head of Responsible Investment, Border to Coast, said: “Climate change is a global systemic risk, and it will take global action to combat it. We know we are stronger when we work together, and at Border to Coast we are proud to stand with institutional asset managers to say that we must and should do more. It is not enough to only talk about solutions, the investment industry must play an active role in driving positive change which has a real world impact. Engagement with companies is key to this, and our own commitment to net zero greenhouse gas emissions by 2050 will play an important role in ensuring that everything we do is aligned to reducing emissions and playing a part in the fight to limit global warming.”

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