Recognizing the role investors play as a catalyst to finance the transition towards a low carbon economy, Allianz Global Investors has announced that it is joining the One Planet Asset Managers (OPAM) initiative.
This project was launched in 2019 to support the members of the One Planet Sovereign Wealth Funds (OPSWF) in their implementation of the OPSWF Framework. The OPSWF Network comprises 43 of the world’s largest institutional investors with over 36 trillion dollars in assets under management and ownership.
By joining OPAM, Allianz GI commits to actively collaborate within the OPSWF Framework and to engage with other key actors, including standard setters, regulators and the broader industry to further the Framework’s objectives. The goal is to accelerate the understanding and integration of the implications of climate-related risks and opportunities within long-term investment portfolios through sharing of investment practices and expertise with the members of the OPSWF and publication of relevant research.
“Partnering with clients to tackle the most pressing sustainability issues and create a better future for all is at the heart of what we do. We are proud to be the first German investor to be joining the OPAM. We are committed to advance the understanding of the implications of climate-related risks and opportunities within long-term investment portfolios through the sharing of investment practices”, commented Tobias Pross, CEO.
In this sense, he pointed out that Allianz GI looks forward to contributing to the work of the One Planet Initiatives given their experience in climate finance through their “investment process, strong stewardship policy, and investment solutions that contribute positively to the alignment of an asset owner’s portfolio to a low carbon economy”.
This new commitment comes as, recognizing the urgency to tackle climate change, the firm is accelerating its sustainability drive. In fact, they announced earlier this year their commitment to supporting the climate transition via exclusions in coal production and coal-based energy production. Besides, Allianz GI is a member of the Net Zero Asset Managers initiative and supports the goal of net zero greenhouse gas emissions by 2050 or sooner. It is also an original member of the EC’s Technical Expert Group (TEG) on Sustainable Finance and co-founded the Climate Finance Leadership Initiative.
Por Funds Society, Madrid