The Paris Aligned Investment Initiative (PAII) now has a combined $1.9 trillion (£1.34tn) of assets under management after signing up six new signatories.
The Initiative was set up by the Institutional Investors Group on Climate Change (IIGCC) in 2019, aligning companies’ activities and portfolios with the Paris Agreement; to commit to decarbonising their investment portfolios by 2050 and increasing investment in climate solutions.
The new six investors, including ABP, National Trust and the Church of Sweden, join 38 others that represent $8.5 trillion (£6tn) in assets.
Stephanie Pfeifer, CEO at IIGCC, said: “Net zero commitments are vital but must be matched with robust action plans.
“Growing uptake of the net zero Investment Framework ensures more investors are now able to maximise their contribution to the energy transition by adopting a net zero investment strategy.”