Generali joins the Net-Zero Asset Owner Alliance, a group of 18 pension funds and insurance companies created on the initiative of the United Nations which is committed to investing in companies that produce ever lower net greenhouse gas emissions. The goal is to help avoid a rise in global temperature beyond the Paris target of 1,5 degrees. Not by divestment, but by working together with portfolio companies to change their business models, adopting climate-friendly practices and ideally setting a goal of net zero emissions. Total assets managed by Alliance members exceed $4,3 trillion.
In 2020, the association will focus on three key areas: advancing measurement and reporting; engage portfolio companies to pursue the goal of net zero emissions; involve public decision-makers in the activation of policies aimed at achieving a zero-emission economy.
“We are proud to be part of the Net-Zero Asset Owner Alliance: it is a step consistent with our intention to align the investment portfolio with long-term commitments – said Tim Ryan, group chief investment officer and CEO asset & wealth management of Generali – As financial operators we feel the responsibility to contribute to the achievement of carbon neutrality by 2050”.
