Asset Owner Statement on Net Zero Asset Managers (NZAM) – led by Brunel Pension Partnership

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This statement was originally compiled by Brunel Pension Partnership and published on its website.

As asset owners representing USD $3.7 trillion in assets, we remain deeply concerned about the
escalating and systemic risks posed by climate change to the global economy, the markets and our
portfolios.

Consistent with our fiduciary obligations to clients and beneficiaries to mitigate financial risk and
to maximise long-term value of assets, we call on our investment partners to ensure they are
equipped for and committed to managing these risks responsibly and transparently, on our behalf.

International initiatives such as the Net Zero Asset Managers initiative offer practical tools to further these aims, and we support ongoing participation from existing signatories. We also encourage those who have not yet joined to consider becoming signatories.

The updated NZAM Commitment Statement presents an opportunity for asset managers to
reaffirm their commitment to supporting investing aligned with the global goal of net zero
emissions. This sends an important and public signal to the asset owner community and the wider
market on how they are managing climate-related financial risks and opportunities on behalf of
their clients.

We reaffirm our support for the Net Zero Asset Managers initiative and its alignment with key
principles that help guide best practice investment strategies:

  • Addressing climate-related risks and transition opportunities is a fiduciary
    imperative: Managing climate-related financial risks and transition opportunities is not
    optional. Given the compelling evidence of the materiality of these risks, it is a critical part of safeguarding and growing long-term value for beneficiaries. Asset managers are
    encouraged to integrate climate considerations into investment decisions in ways that
    reflect their fiduciary responsibilities.
  • Public commitments and transparent disclosures are essential for accountability:
    Credible, science-based commitments and clear reporting provide vital market
    transparency. They enable asset owners to assess progress and hold managers accountable for delivering on stated objectives and contractual mandates.
  • Consistency through engagement, product delivery, and policy advocacy: Asset
    managers are expected to demonstrate active stewardship and meaningful engagement
    with companies and the broader investment community in a manner consistent with their
    commitments, alongside providing investment products that support us in achieving our
    own objectives. Evidence demonstrates that climate alliances such as NZAM accelerate the diffusion of climate-aligned standards and practices across the finance sector.

We recognise that achieving net zero will only be possible within an enabling environment that
supports credible action across markets and sectors. Participating in the Net Zero Asset Managers
initiative helps a manager to demonstrate alignment with our shared understanding of fiduciary
duty, and signals their consideration of climate-related financial risks and opportunities in their
investment approach.

As owners of capital, we will continue to engage with our asset managers regarding their
commitment to the Net Zero Asset Managers initiative.

List of signatories (as of 19 February 2026):

  • AkademikerPension
  • AP2
  • AP3
  • AP7
  • Aviva plc
  • Aviva Staff Pension Trustee Ltd
  • Avon Pension Fund
  • Border to Coast Pensions Partnership
  • Brunel Pension Partnership
  • Caisse des Dépôts
  • Church Commissioners for England
  • Church of England Pensions Board
  • Church of Sweden
  • Church Pension Fund Finland
  • Co-operators
  • Cornwall Pension Fund
  • Credit Agricole Assurance
  • Danica
  • Environment Agency Pension Fund
  • ERAFP
  • Fonds de Réserve pour les Retraites
  • Gloucestershire Pension Fund
  • Inherent Management Corp.
  • IRCANTEC
  • John Ellerman Foundation
  • La Caisse
  • Länsförsäkringar AB
  • LB Forsikring
  • LGPS Central
  • London Pensions Fund Authority
  • London School of Economics & Political Science
  • M&G Plc (Prudential Assurance Company)
  • MAIF
  • Nordea Life & Pension
  • Northern Ireland Local Government Officers’ Superannuation Committee
  • Oxfordshire County Council Pension Fund
  • Pædagogernes Pension – PBU
  • Railpen
  • Sampension
  • Scottish Widows
  • Skandia AFP ACCAI S.A
  • Smart Pension
  • South Yorkshire Pensions Authority
  • Storebrand
  • Strathclyde Pension Fund
  • The Royal London Mutual Insurance Society Limited
  • Triê Group
  • United Nations Joint Staff Pension Fund
  • University Pension Plan Ontario (UPP)
  • Vision Super
  • Walcot Partners Limited
  • West Midlands Pension Fund
  • West Yorkshire Pension Fund