Net Zero Asset Owner Alliance Updates Target-Setting Protocol with New Transition Targets
The Net Zero Asset Owner Alliance has released its updated Target-Setting Protocol, emphasizing transition elements and introducing a new transition target for asset owners. This fifth version requires signatories to align portfolios with net zero by 2050 and includes principles for credible transition plans. The alliance now has 87 signatories across 19 countries, managing over $9 trillion in assets.
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The Net Zero Asset Owner Alliance has updated its Target-Setting Protocol, focusing on transition elements and introducing a new transition target for asset owners. This fifth version requires signatories to set and report on portfolio alignment with net zero by 2050, with a focus on supporting high-emitting companies with credible net-zero plans.
Key changes include a four-part target-setting approach, requiring targets in at least three categories, with mandatory Engagement Targets. The updated framework also integrates carbon removals and encourages financing of carbon removal projects, while prioritizing decarbonization and restricting carbon removals for portfolio targets before 2030.
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