The Net Zero Asset Owners’ Alliance
Day 2 of RI New York 2019, featured an onstage interview between Bertrand Millot, Head of the Stewardship Team at the CA$325bn Caisse de Dépôt et Placement du Québec’s (CDPQ) and Hugh Wheelan, Joint Co-founder and Managing Director at Responsible Investor on the recently launched Net Zero Asset Owners’ Alliance – an association of 16 asset owners, representing $4trn in assets, that have committed to zero CO2 emission portfolios by 2050.
Millot said the “fundamental realisation” underpinning the initiative, for which CDPQ is a founding member, is the need to decarbonise the entire economy “not just fossil fuels”.
Divestment, he said, was “not a solution” because climate risk will still be there for the entire portfolio if the world stays on its current emissions trajectory.
Members of the Alliance, which includes Alecta, CalPERS and AXA, will set the first of their five yearly targets by the end of 2020 a…