As the eyes of the world turn to Glasgow ahead of next week’s climate summit, the number of financial firms with Net Zero commitments now stands at around 300, with nearly $90trn of assets.
“That goes in the good news column,” says David Blood, Senior Partner at Generation Investment Management, one of the founding members of the Net Zero Asset Managers Initiative that coordinates the pledges made by investment houses. “But it’s one thing to have a plan, and another to actually do something about it.”
Blood co-founded Generation in 2004 with former US Vice President Al Gore, to invest in sustainably-managed private and public equity. Since then, it has garnered a reputation for being a credible and concentrated green investor, well-known for its client waiting lists.
“We have nine years to cut carbon emissions in half,” he says, referring to the 2030 interim target for getting to Net Zero by 2050. “That’s half the time that Generation h…