The Net-Zero Asset Owner Alliance (NZAOA) has announced the election of Josselin Kalifa of Caisse des Dépôts and Toru Shindo of the United Nations Joint Staff Pension Fund as new co-chairs of its Steering Group, marking a leadership transition for the global climate investment initiative.
The appointments, with Kalifa representing Europe and Shindo leading from North America, reflect NZAOA signatories' renewed commitment to driving the financial sector toward a sustainable, low-carbon future. The alliance, comprising 86 asset owners managing $9.2trn in assets, has seen substantial progress under its fifth Progress Report, published in November 2025.
In person | NZI Climate Solutions Summit | 23 June | London
"We have the ability to push the market further, let's do it," stated Kalifa, who serves as CIO for CDC's Asset Management Division overseeing €323 billion in assets. As a founding NZAOA signatory, Kalifa emphasised maintaining finance as "an effective and operational lever of the transition."
Shindo, representing the UNJSPF, expressed honour in taking on the role "at such a pivotal moment for NZAOA and global climate action." With a long-term investment perspective, he highlighted the fund's responsibility "to invest for the future" and continue driving ambition to align portfolios with net-zero pathways.
The leadership transition comes as NZAOA signatories demonstrate significant progress, having successfully directed $743bn into climate solution investments by December 2024—representing 8% of total assets under management. Signatories also achieved their engagement targets with 78% fully reported as accomplished, while reporting another 6% average reduction in financed greenhouse gas emissions across their portfolios in 2024, the organisation disclosed.
Under the new guidance, NZAOA is implementing its Target Setting Protocol Fifth Edition, which introduces regional flexibility, enhanced asset manager engagement requirements, and a new "transition target" category for strategic investments in high-emitting companies with credible net-zero plans.
Longview Networks: Institutional Investment Conferences and Summits
