Camco is proud to have joined the Net Zero Asset Managers initiative, committing to the goal of net zero GHG emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5°C.
Coinciding with the beginning of COP26, the initiative this week announced 92 new asset manager signatories – including Camco – representing USD 10.8 trillion in assets under management.
The Net Zero Asset Managers initiative now has a total of 220 signatories representing USD 57.4 trillion in assets under management, which is over 50% of the total global assets under management.
To date, 43 investors have disclosed their first interim targets for the proportion of assets managed in line with achieving net zero by 2050. The asset managers have committed USD 4.2 trillion out of a possible USD 11.9 trillion, meaning that 35% of their total assets under management are in line with net zero.
Geoff Sinclair, Managing Director of Camco, said: “We must mobilise financial markets much more if we are to meet the 1.5 degree imperative. Joining the Net Zero Asset Managers initiative is part of our commitment to transforming the market for climate finance, mobilising the money that is needed, and building a just transition.
“This week’s announcement should send out a very strong signal to the climate negotiators in Glasgow that the investment world is ready to up the ante on climate change and give them the courage to take the necessary steps to avert a climate catastrophe.”
Read the full press release here.