ESG investor group wants market reforms

The Net Zero Asset Owner Alliance is expanding its protocol to include all private asset classes. — Bloomberg

COPENHAGEN: Global ESG investors with US$9.5 trillion under management say it’s time to demand more accountability from private markets, amid evidence they’re increasingly absorbing fossil-fuel assets.

The Net Zero Asset Owner Alliance (NZAOA), whose 89 members include CalPERS, Zurich Insurance and Munich Re, is expanding its protocol to include all private asset classes.