The UN-Convened Net Zero Asset Owner Alliance (NZAOA) is a member-led initiative of institutional investors committed to transitioning their investment portfolios to net-zero GHG emissions by 2050 – consistent with a maximum temperature rise of 1.5°C.

The Alliance members are the finance industry’s first to set intermediate targets, which include CO2 reduction ranges for 2025 (22 – 32%) and for 2030 (40% – 60%).

The third progress report of the Net Zero Asset Owner Alliance serves to communicate transparently on members’ aggregated data and to open discussions on the leadership but also challenges of net-zero investors. The data presented in the report covers the targets members have set, the implementation of the Alliance’s positions, and the advances members have made while working in the Working Tracks of the Alliance.

This year, data on members’ alignment with the  Position on Thermal Coal (published in 2020) is included in the report and shows that 97 per cent of members setting intermediate targets have a coal position, 82 per cent of which are aligned with the Alliance’s position (see Chapter 3 for more details).