Generali joins United Nations-convened Net-Zero Asset Owner Alliance
21 January 2020
Milan - Generali joins the United Nations-convened Net-Zero Asset Owner Alliance, the group of 18 pension funds and insurers committed to decarbonize their portfolios to net-zero emissions by 2050 to avoid a global temperature increase above the 1.5°C Paris target.
This will not be attained through divestment, but rather the Alliance will work closely with portfolio companies to change their business models, adopting climate friendly practices and ideally setting a net-zero target based.
The total assets managed by Alliance members are over US$4.3 trillion.
The Alliance for 2020 will focus on three core areas: advancing its measurement and public reporting; engaging with portfolio companies on a net-zero target; and engaging policymakers towards policies supportive of net-zero economy ambitions.
Tim Ryan, Group Chief Investment Officer and CEO Asset & Wealth Management, Generali said: "We are proud to be part of the Net-Zero Asset Owner Alliance. It is about walking the talk and further aligning our investment portfolio to our long term commitments. As a financial services operator we feel the responsibility of contributing to achieving carbon neutrality by 2050."