NZAM initiative scraps 2050 net zero target requirement for members
The decision comes from a ‘comprehensive review’ undertaken by NZAM after losing high-profile member BlackRock in January.
The Net Zero Asset Managers (NZAM) initiative has opened a ‘new chapter’ in which members are no longer required to target net zero by 2050.
By removing this criteria for membership, NZAM follows the trend set by the the Glasgow Financial Alliance for Net Zero (GFANZ) and the Net Zero Banking Alliance (NZBA), which started by loosening target-setting requirements for members, and ended up shifting from membership alliances to framework initiatives providing decarbonisation guidance for the financial industry.
