On Tuesday, July 6, 2021, 41 fund management firms announced their joining of the Net Zero Asset Managers initiative, an initiative by asset management firms to lower the carbon footprint of their clients’ portfolios and develop net-zero investment products.

The Net Zero Asset Managers initiative was launched in December 2020 and is recognized by the United Nations Framework Convention on Climate Change Race to Zero. The initiative seeks to have investors work closely with their clients in attaining net-zero emissions across their investment portfolios by 2050 and set emissions reduction targets.

The addition of 41 leading asset managers, managing over $6.8 trillion in assets, to the initiative brings the total signatories to 128 investors with over $43 trillion in assets. The additional signatories bring the initiative to representing nearly half of the world’s assets, which is estimated at $100 trillion, under management with net-zero goals.