Asset owners to attempt daring, immediate emission cuts

One of the boldest initiatives to green the financial system is getting under way this year, as the members of the Net Zero Asset Owner Alliance begin a drive to reduce the greenhouse gas emissions of entities they invest in by between 16% and 29% in the next five years.
If such a move can be achieved, it would go far beyond almost any other gains so far in sustainable finance. It would also be a steep enough change to be directly felt in financing markets. High carbon issuers are likely to find their costs of capital rising.
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