With $1.9 trillion of assets committed, this initiative represents a significant moment on the road to a net zero future. This is a major step by asset owners to lay out commitments for the goal of net zero emissions by 2050 or sooner.
As asset owners, we must play our part in helping to deliver the goals of the Paris Agreement and ensure a just transition. We are delighted to become part of the Paris Aligned Asset Owners group as part of our commitment to this goal.
Cliff Speed, Chief Investment Officer at TPT, said:
Climate change represents a systematic risk to the long-term value of our investment portfolio and has the potential to reduce the security of our members’ retirement benefits. At the same time, the investment required to transition to a net zero economy presents a significant opportunity to support the expansion of climate solutions.
Making a commitment to transition our portfolio to net zero by 2050 or sooner and becoming a signatory to the Paris Aligned Investment Initiative, Net Zero Asset Owner Commitment, signals we will continue to allocate capital to sustainable businesses, consistent with our investment objectives.
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