Algebris has officially become a signatory of the Net Zero Asset Managers Initiative, further confirming its commitment to the fight against climate change, and to the energy and environmental transition.
The project, launched in December 2020, involves a group of 73 international asset managers, who together represent about $32 trillion in assets under management, around two equally ambitious goals: first, to reduce net greenhouse gas emissions to zero by 2050 in line with global efforts to limit warming to 1.5 degrees Celsius, and second, to promote responsible investment to achieve net zero emissions for all assets under management by 2050.
Consistent with these long-term targets, Algebris is committed to reviewing its interim target at least every five years to gradually increase the proportion of assets under management that meet these criteria to include 100% of assets under management.
Davide Serra, Founder and CEO at Algebris Investments, explained: “As investment managers, when taking asset allocation decisions, we recognise the role we play as a powerful engine behind a just transition towards a greener, fairer and more sustainable economy. This shift will depend on each and every one of us and it is crucial, especially for future generations, that businesses have a clear action plan. We are proud to join the Net Zero Asset Managers initiative, to accelerate the transition towards global net zero emissions while supporting our clients set and meet decarbonisation goals for their portfolios.“
Stephanie Pfeifer, CEO, Institutional Investors Group on Climate Change and Founding Partner of the Net Zero Asset Managers initiative, added:
“I am delighted to welcome Algebris to the Net Zero Asset Managers initiative. This is a vital decade with urgent action needed to meet the goals of the Paris Agreement and limit global warming to 1.5°C. Asset managers, including Algebris, coming together to commit to net zero targets sends a clear signal that the financial firepower of institutional investors will be dedicated to delivering real progress towards a net zero and resilient future.”