Swisscanto Invest, the asset management arm of Zürcher Kantonalbank, joined the Net Zero Asset Managers Initiative at the end of June. The international asset managers represented in this initiative have set themselves the goal of significantly reducing global greenhouse gas emissions. Swisscanto Invest is now committed to the target of reducing greenhouse gas emissions to net zero by 2050 (or earlier) in its investment decisions to help limit global warming to 1.5 degrees centigrade.
128 global asset managers collectively managing USD 43 trillion of assets, 43% of assets under management worldwide, have joined the initiative since December 2020. These asset managers have a fiduciary responsibility to their clients, such as pension funds, insurance companies and foundations. They therefore have considerable leverage through their investment decisions to meet the climate targets that have been set and make a significant contribution to greenhouse gas neutrality by 2050.
Last year Swisscanto Invest became the first asset manager in Switzerland to apply a mandatory quantitative greenhouse gas reduction path to investment decisions in its active investment solutions. Some of its funds are therefore already on a downward trajectory towards the 1.5 degree target. After signing the Net Zero Initiative, Swisscanto Invest will extend this strategy to other portfolios. It will also report annually to the initiative, which monitors compliance with the pledge.
Iwan Deplazes, head of Swisscanto Invest, the asset management arm of Zürcher Kantonalbank, commented: “The commitment to the 1.5 degree target means the asset management industry is taking on an important responsibility in the coming decades: to work hand-in-hand with companies to achieve greenhouse gas neutrality by 2050. I am proud that Swisscanto Invest is part of the Net Zero Asset Manager Initiative.”