Investors Push Fund Managers to Intensify Focus on Climate Fight

An $11-trillion investor group wants asset managers to orient a bigger chunk of their portfolios to tackle climate change.

Fresh guidance issued by the Net-Zero Asset Owner Alliance, whose signatories include large insurers like Allianz SE and pension funds like California Public Employees’ Retirement System, calls for members to work with asset managers that are seeking changes in climate policy and regulation, and to actively push companies to accelerate their decarbonization plans.

How asset managers signal their climate goals “is important, especially for policymakers,” said Patrick Peura, ESG engagement manager at Allianz Investment Management and co-lead of engagement ...