A group of 42 asset owners have released a statement calling on managers to participate in the Net Zero Asset Managers Initiative (NZAM). The group, collectively representing over $2.3tn under management, has backed NZAM’s updated commitment statement – which signatories have reviewed over the past three months.
“The updated NZAM commitment statement presents an opportunity for asset managers to reaffirm their commitment to supporting investing aligned with the global goal of net zero emissions”, the statement reads.
According to the signatories, managers who commit to the alliance will send an ‘important and public signal to the asset owner community’ on their willingness and ability to not only address climate risks but also capture investment opportunities within the energy transition.
The statement outlines an asset owners view of NZAM’s value proposition. Asset owners believe the alliance will push managers towards science-based, collaborative and credible climate commitments. Crucially, the asset owners argue that it promotes ‘a shared understanding of fiduciary duty’.
Signatories to the letter include the UK local government pension pools Brunel Pension Partnership, Border to Coast Pensions Partnership and LGPS Central. The list also includes Denmark’s Sampension and AkademikerPension, Sweden’s AP2 and AP3 and the UK’s Scottish Widows, Smart Pension and Railpen.
NZAM’s new commitment statement, which was published in October 2025, notably removed all references to a 2050 target. According to NZAM, this was intended to make the alliance more accommodative of ‘diverse jurisdictional realities’.
NZAM is set to resume activities by the end of February, in line with the new commitment statement.
