Net Zero Asset Owners names co-chairs

The Net Zero Asset Owners Alliance (NZAOA) has named two co-chairs of its steering group.

Josselin Kalifa of Caisse des Dépôts and Toru Shindo of the United Nations Joint Staff Pension Fund are the new co-chairs, with Kalifa representing Europe while Shindo will represent North America.

The NZAOA said the appointments "underscore NZAOA signatories' commitment to set ambition and guide the global financial sector towards a sustainable, low-carbon future."

Commenting, Kalifa said: "As a founding signatory of NZAOA, CDC looks forward to this new phase and the opportunity to work with peers worldwide to define the standards and actions needed to meet our climate commitments. As an institutional investor, my intention is very clear: maintaining our requirements for finance to be an effective and operational lever of the transition. We have the ability to push the market further, let's do it."

Meantime, Shindo said: "The United Nations Joint Staff Pension Fund is honoured to take on this role at such a pivotal moment for NZAOA and global climate action. With a long-term investment perspective, we recognise our responsibility to invest for the future. Together, we will continue to drive ambition to align portfolios with net-zero pathways and deliver lasting impact."

Last month, new protocols from the NZAOA allowed regional flexibility for signatories to apply global targets in a practical and effective manner that respects diverse economic and regulatory environments, and introduced asset manager engagement & KPIs reinforce incentives for proactive asset manager engagement.

It also introduced a new "transition target" category enabling strategic investment in high-emitting companies that have a credible and robust plan for transitioning to net-zero operations, and provided clarity for applying methodologies to private assets, including infrastructure and real estate.