Amundi joins the Net Zero Asset Managers initiative

Paris, Tuesday 06 July 2021

Corporate

As an actor of the transition, Amundi is committed to supporting the goal of net zero emissions by 2050

By joining the Net Zero Asset Managers Initiative Amundi not only embraces global carbon neutrality objectives, but is actively taking action to accelerate investing aligned with net zero emissions by 2050 or sooner. This is a key milestone in Amundi’s commitment to contribute positively to address society’s global challenge, and a significant step in our mobilization plan for climate action “On the road to Glasgow”, where the United Nations’s 26th “Conference of the Parties” (COP 26) will take place from October 31st to November 11th, 2021.

Being a responsible investor, means being 100% responsible. Next step: deeper commitments toward climate action.

Since its creation in 2010, Amundi has been deeply committed to integrating Environmental, Social and Governance factors in its investment processes and accelerating sustainable transitions through an ambitious engagement policy, sustainable capital market development and the mobilization of capital to support Sustainable Development Goals.

Climate Change is arguably the greatest challenge of our times. Exacerbated by human activities; it presents itself as one of the greatest systemic risks for society. Against this backdrop, we acknowledge that there is an urgent need to accelerate the transition towards global net zero emissions. As a responsible asset manager, Amundi’s aim is to support this transition by enabling investors to start taking action and ensuring they are equipped to face the associated investment risks and opportunities. We co-founded the Portfolio Decarbonization Coalition in 2014, alongside the United Nations Environment Program Finance Initiative, to support this objective. In 2021, we continue to be an actor of the transition and now join the Net Zero Asset Managers initiative.

2021 needs to be the year of climate action for all economic actors. Governments and companies have a collective responsibility to transition to decarbonized economies by adopting ambitious emission reduction targets. We are convinced that the financial sector is a key catalyst for action in this race to Net Zero. Amundi is a pioneer in responsible investing with strong climate convictions and a deep awareness of our responsibility. Therefore, as European leader of asset management industry, we are proud to embrace global carbon neutrality objectives.

Valérie Baudson, CEO of Amundi

Why is ‘The Race to Net Zero’ at the core of the COP 26?

The Paris Agreement set clear guidelines for the fight against climate change, with 197 countries agreeing on the objective to limit global warming to well below 2°C. Five years after this landmark agreement, countries, local governments, corporates and financial actors have largely failed to deliver the efforts needed to set a new course to reduce global warming, making the goal of reaching carbon neutrality in 2050 even more challenging. The energy transition is not only a financial risk, it is our common responsibility and climate action by responsible investors can be a catalyst for change. Global GHG emissions need to drop, they need to drop now, and we have a collective responsibility to make it happen.

What is the Net Zero Asset Managers initiative?

The Net Zero Asset Managers initiative is an international group of asset managers committed to supporting the goal of net zero carbon emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5 degrees Celsius, and to supporting investing aligned with net zero emissions by 2050. The initiative is accredited by the United Nations Framework Convention on Climate Change (UNFCCC)  Race to Zero campaign and coordinated by the Institutional Investors Group on Climate Change (IIGCC).

What are the commitments of Net Zero Asset Managers?

By joining the alliance, asset managers commit to work in partnership with asset owners on decarbonisation goals, consistent with an ambition to reach net zero emissions by 2050 or sooner.  They have to set interim targets for 2030, consistent with the objective of net zero emissions by 2050 or sooner.  They also commit to provide investors with analytics on net zero investing and climate risk and opportunity, and implement a stewardship and engagement strategy consistent with net zero objectives.

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