The Net Zero Asset Managers (NZAM) shuttered operations in January 2025. Then the investment coalition announced its intent to return with less stringent standards for membership. After the opt-out deadline passed in January of this year, over 250 asset managers remained with the organization. Now NZAM is resuming operations. A press release from the organization states:
“The Net Zero Asset Managers (NZAM) initiative today announced its official relaunch, with more than 250 asset managers signed on to the updated Commitment Statement. The strong investor backing for NZAM signals that asset managers around the world continue to recognise and take steps to address climate-related financial risks and opportunities. NZAM provides asset managers with a platform to publicly disclose their individual net zero commitments and implementation approaches. Signatories independently set targets, develop their own strategies, and report annually on progress.”
Unfortunately, the anti-ESG headwinds that led to NZAM’s initial closure continue in the US. This has led US firms to largely decline membership due to fears of antitrust enforcement. The role of climate pacts and industry coalitions is still unclear. Some have argued that such groups are ineffective in promoting real progress on climate issues. We’ll have to see how the remaining members of NZAM progress moving forward and if there is a measurable change in climate performance between them and their peers.
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