2021 Global Investor Statement to Governments on the Climate Crisis
This statement, coordinated by the seven Founding Partners of The Investor Agenda,
is signed by 457 investors representing over USD $41 trillion in assets
We stand at the beginning of a pivotal decade in which institutional investors and government
leaders worldwide have the power to raise ambition and accelerate action to tackle the climate
crisis. If we do not meet this challenge and change course immediately, the world could heat inexcess of 3-degrees Celsius this century1 – far beyond the goal of the Paris Agreement to limit
the global average temperature rise to no more than 1.5-degrees Celsius, which scientists say
is necessary to avoid the worst impacts of climate change.
To achieve this common goal, we must work together to reduce global net carbon dioxide
emissions by 45 percent from 2010 levels by 20302, with a dramatic reduction of all greenhousegas emissions essential for reaching net-zero emissions by 2050 or sooner. Key to this is ensuring
government leaders support sustainable COVID-19 economic recovery efforts consistent withnet-zero emissions.
As the world prepares to gather for the 26th United Nations Climate Change Conference ofthe Parties (COP26), we encourage all countries to significantly strengthen their Nationally
Determined Contributions (NDCs) for 2030 and to ensure a planned transition to net-zeroemissions by 2050 or sooner. While we recognize the differentiated responsibilities andrespective capabilities of countries, we believe that those who set ambitious targets in linewith achieving net-zero emissions, and implement consistent national climate policies in theshort-to-medium term, will become increasingly attractive investment destinations. Countries
that fail to do so will find themselves at a competitive disadvantage.
In this shared global crisis, investors and governments each have a responsibility to act swiftly
and boldly. Investors are taking climate action in line with The Investor Agenda, with moreinvestors than ever before embedding net zero goals and strategies into their portfolio decisions,engaging companies to cut their emissions and calling on policymakers to deliver robust climate
action. Investors are urgently seeking to decrease their exposure to climate risk as a corefiduciary duty and benefit from the opportunities associated with the transition to a net-zeroemissions economy.
However, our ability to properly allocate the trillions of dollars needed to support the net-zerotransition is limited by the ambition gap between current government commitments (as set
out in NDCs) and the emission reductions needed to limit global average temperature rise to1.5-degrees Celsius. In addition, as owners of (or those representing owners of) companies,
we need access to adequate information on how these companies are assessing and managing
the risks and opportunities presented by climate change. Government policy has a critical roleto play in increasing our access to and affirmative disclosure of such information.

1
2

https://www.unenvironment.org/emissions-gap-report-2020
https://www.ipcc.ch/2018/10/08/summary-for-policymakers-of-ipcc-special-report-on-global-warmingof-1-5c-approved-by-governments/

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These gaps – in climate ambition, policy action and risk disclosure - need to be addressed withurgency.
We, therefore, call on all governments in 2021 to:
1. Strengthen their NDCs for 2030 before COP26, to align with limiting warming to 1.5-degrees
Celsius and ensuring a planned transition to net-zero emissions by 2050 or sooner.
2. Commit to a domestic mid-century, net-zero emissions target and outline a pathway with
ambitious interim targets including clear decarbonization roadmaps for each carbon-intensive sector.
3. Implement domestic policies to deliver these targets, incentivize private investments inzero-emissions solutions and ensure ambitious pre-2030 action through: robust carbon
pricing, the removal of fossil fuel subsidies by set deadlines, the phase out of thermal
coal-based electricity generation by set deadlines in line with credible 1.5-degrees
Celsius temperature pathways, the avoidance of new carbon-intensive infrastructure(e.g. no new coal power plants) and the development of just transition plans for affected
workers and communities.
4. Ensure COVID-19 economic recovery plans support the transition to net-zero emissions
and enhance resilience. This includes facilitating investment in zero-emissions energy andtransport infrastructure, avoiding public investment in new carbon-intensive infrastructure
and requiring carbon-intensive companies that receive government support to enact
climate change transition plans consistent with the Paris Agreement.
5. Commit to implementing mandatory climate risk disclosure requirements aligned with theTask Force on Climate-related Financial Disclosures (TCFD) recommendations, ensuring
comprehensive disclosures that are consistent, comparable, and decision-useful.
Strong policies, in line with limiting global warming to no more than 1.5-degrees Celsius, canaccelerate and scale up private capital flows towards the net-zero transition. Full implementationof the Paris Agreement will create significant investment opportunities in clean technologies,
green infrastructure and other assets, products and services needed in this new economy.
In turn, investors can use capital allocation and stewardship to support sustainable activities
that generate jobs and economic growth, transition away from carbon-intensive activities andincrease resilience. We encourage governments to engage closely with investors to make surethese opportunities are fully realized.
As investors, we are committed to working with governments to ensure policy mechanisms aredeveloped and implemented to transition to a climate resilient net-zero emissions economy by2050 or sooner.
We urge all governments to step up their collective response to the climate crisis.

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Note: The following 457 investor signatories with over USD $41 trillion in assets are listed inalphabetical order by organisation name.
a.s.r. asset management
Aargauische Pensionskasse (APK)
Aberdeen Standard Investments
Absa Asset Management
Achmea Investment Management
Active Ownership Fund
Active SuperAIF Capital Limited
Aikya Investment Management
AIP Management
AkademikerPension
Aktia BankAlectaAlgebris Investments
AllianceBernstein
Allianz Global Investors
Alquity Investment Management Limited
Alternative Capital Partners SGR Spa
Amberside Capital
AMFAmundi
Anaxis Asset Management
Andra AP-fonden (AP2)
Anesvad Foundation
Angel Oak Capital Advisors, LLC
Anima SgrAP Pension
AP3 Third Swedish National Pension Fund
AP4 Fourth Swedish National Pension Fund
AP6 Sixth Swedish National Pension Fund
AP7 Seventh Swedish National Pension Fund
APG Asset Management
ARDEA Investment Management
Arisaig Partners
Armstrong Asset Management
Artico Partners
Arvella Investments
As You Sow
Assenagon Asset Management S.A.
Asset Management One
ATISA Personalvorsorgestiftung derTschümperlin-Unternehmungen
ATLAS Infrastructure
ATPAusbil Investment Management Limited
Australian Ethical Investment
AustralianSuper
Avaron Asset Management

DISCLOSURE INSIGHT ACTION

Avera HealthAviva Plc
Avon Pension Fund
Aware Super
AXA Investment Managers
Bamboo Capital Partners
BancoPosta Fondi SgrBankInvest
Bâtirente
BayernInvest Kapitalverwaltungsgesellschaft
mbH
BBGI Global Infrastructure S.A.
BBVA Asset Management
Bernische Lehrerversicherungskasse
Bernische Pensionskasse BPKBMO Asset Management Ltd
BNP Paribas Asset Management
BONUS Pensionskassen Aktiengesellschaft
Border to Coast Pensions Partnership
Boston Common Asset Management
Boston Trust Walden
Brawn Capital
Bridges Fund Management
British Columbia Investment Management
Corporation (BCI)
British Columbia Municipal Pension Plan
British Dietetic Association
Brunel Pension Partnership
BT Pension Scheme
Bupa
Cadence Investment Partners LLP
Caisse Cantonale d’Assurance Populaire- CCAP
Caisse de dépôt et placement du Québec(CDPQ)
Caisse de pension du Comité international dela Croix-Rouge
Caisse de pension Hewlett-Packard Plus
Caisse de pensions de l’Etat de Vaud (CPEV)
Caisse de pensions du CERN
Caisse de pensions du personnel communalde Lausanne (CPCL)
Caisse de pensions ECA-RP
Caisse de prév. des Fonctionnaires de Police &des Etablissements Pénitentiaires
Caisse de Prévoyance de l’Etat de Genève
Caisse de Prévoyance des Interprètes deConférence (CPIC)

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Caisse de prévoyance du personnel
communal de la ville de Fribourg
Caisse de prévoyance du personnel de l’Etat
de Fribourg (CPPEF)
Caisse de prévoyance du personnel de l’Etat
du Valais (CPVAL)
Caisse intercommunale de pensions (CIP)
Caisse paritaire de prévoyance de l’industrieet de la construction (CPPIC)
Caja Ingenieros
Caja Ingenieros Gestión SGIICCalifornia Public Employees Retirement
System (CalPERS)
California State Controller
California State Teachers Retirement System
Calvert Research and Management
Canada Post Corporation Pension PlanCandriam
CAP Prévoyance
Capital Dynamics
Capricorn Investment Group
CardanoCareSuper
Carmignac
Cassa Nazionale di previdenza e assistenza
forenseCastlefield Investment Partners
Cathay Financial Holdings
Cbus SuperCCLA
CCOO, FP
CenterSquare Investment Management
Central Finance Board of the Methodist
ChurchChristian Brothers Investment Services, Inc.
Christian Super
Church Commissioners for England
Church of England Pensions Board
Church of Scotland Investors Trust
Church of SwedenCIEPP - Caisse Inter-Entreprises dePrévoyance Professionnelle
Clean Energy Venture Management, LLC
CleanCapital
CNP Assurances
Colchester Global Investors
Colonial First State
Committee on Mission Responsibility
Through Investment of the Presbyterian
Church U.S.A.
Cooler Future

DISCLOSURE INSIGHT ACTION

Corporate Responsibility office - Province ofSaint Joseph of the Capuchin Order
Crédit Mutuel Asset Management
Dana Investment Advisors
Danica Pension
Danske Bank Asset Management
DBAY Advisors Limited
Developing World Markets
DIF Capital Partners
Discovery Limited
Domini Impact Investments
Dominican Sisters of Sinsinawa
Dorval Asset ManagementDPAM
Dragon Capital GroupDSM Capital Partners LLC
DWS Group
Dynam Capital, Ltd
Earth Capital
East Capital Group
Eastspring Investments Group Pte. Ltd.
Ecofi
EdenTree Investment Management
EGAMO
Ekkio Capital
Elo Mutual Pension Insurance Company
EMCORE AG
Environment Agency Pension Fund
Epworth Investment Management Limited
EQ Investors
ERAFP
Eric Sturdza Investments
ESG Portfolio Management
Etablissement Cantonal d’Assurance (ECAVAUD)ETHENEA Independent Investors S.A.
Ethical Partners Funds Management
Ethos Foundation
Evanston Capital Management, LLC
Evenlode Investment
Evli Bank
Fairpointe Capital
Falkirk Council Pension Fund
FAMA Investimentos
Federated Hermes International
Fidelity International
FIM Asset Management
Finance in Motion
First Affirmative Financial Network
FMO - Dutch entrepreneurial development
bank4Fondation de la métallurgie vaudoise dubâtiment (FMVB)
Fondation de Luxembourg
Fondation de prévoyance Artes & Comoedia
Fondation de prévoyance du Groupe BNPPARIBAS en Suisse
Fondation de prévoyance professionnelle en
faveur de AROMED
Fondation de prévoyance Romande Energie
Fondation Interprofessionnelle Sanitaire dePrévoyance (FISP)
Fondation Leenaards
Fondation Patrimonia
Fonditel Pensiones EGFPFONDO DE PENSIONES EMPLEADOS DETELEFONICA
Fondoposte
Fonds de Prévoyance de CA Indosuez(Suisse) SA
Fonds interprofessionnel de prévoyance (FIP)
Foresight Group
Första AP-fonden (AP1)
Friends Fiduciary Corporation
Fulcrum Asset Management
FullCycle
GAM Investments
Gebäudeversicherung Luzern
Gebäudeversicherung St. Gallen
Generation Investment Management LLP
Gestion FÉRIQUE
GIB Asset Management
Glasswing Ventures
Glennmont Partners
GOOD GROWTH INSTITUT für globale
Vermögensentwicklung mbH
Gore Street Capital
Greater Manchester Pension FundGreen Century Capital Management
Groupama Asset Management
Groupe La Française
Handelsbanken Fonder AB
Handmaids of the Sacred Heart of Jesus
HESTA
Hexavest
Holberg Fondsforvaltning
HSBC Asset Management
HSBC Bank Pension Trust (UK) Limited
IFM Investors
Ilmarinen Mutual Pension Insurance
CompanyImpax Asset Management

DISCLOSURE INSIGHT ACTION

Inherent Group
Insight Investment
Inspired Evolution Investment Management(Pty) Ltd
Intech Investment Management LLC
Investment Management Corporation ofOntario
Investor Advocates for Social JusticeIrcantec
ISGAM AGJ. Safra Sarasin Sustainable AssetManagementJAB Holding Company Sàrl
JLens Investor NetworkJoseph Rowntree Charitable Trust
Jupiter Asset Management
KBI Global Investors
Keva
Khumo Capital (Pty) Ltd
Kinnerton Credit Management A/SKyma Investment Partners
La Banque Postale
La Financière de L’EchiquierLægernes Pension
Legal & General Investment Management
Lincluden Investment Management Ltd.
Liontrust Investment Partners LLP
Lloyds Banking Group Pensions Trustees
LimitedLocal Authority Pension Fund Forum
Local Pensions Partnership
LocalTapiola Asset Management ltd
Lombard Odier Investment Managers
London Pensions Fund Authority
Longlead Capital Partners Pte. Ltd.
Los Angeles County Employees Retirement
Association (LACERA)
Luzerner PensionskasseM&G plc
Macroclimate LLC
MAIF
Maitri Asset Management
Majedie Asset Management
Man Group plc
Manulife Investment Management
Martin Currie Investment Management
LimitedMercer Investments
Merseyside Pension FundMFS Investment Management
Miller/Howard Investments, Inc.

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MIMCO Capital S.à r.l.
Missionary Oblates/OIP Trust
Mistra, the Swedish Foundation for Strategic
Environmental Research
Mitsubishi Corp.-UBS Realty Inc.
Mitsubishi UFJ Trust and Banking
MN
Montanaro Asset Management
MPC Capital
Munich Venture Partners
MV Credit Partners LLP
MYRA Investments
Nanuk Asset Management
National Grid UK Pension Scheme
Natural Investments
NatWest Group Pension Fund
NEI Investments
Nest Sammelstiftung
Neuberger Berman
Neumeier Poma Investment Counsel, LLC
New Forests
New York City Office of the Comptroller
New York State Comptroller
Newton Investment Management
NextEnergy CapitalNGS Super Fund
Nikko Asset Management Co., Ltd.
Ninety One
Nissay Asset Management Corporation
NN Investment Partners
Nomura Asset Management Co., LTD.
Nomura Real Estate Asset Management Co.,Ltd.
Nordea Asset Management
Norsad Finance Limited
North East Scotland Pension FundNorthern Ireland Local Government Officers’
Superannuation Committee (NILGOSC)
NorthStar Asset Management, Inc.
Northwest Coalition for ResponsibleInvestment
NZ Funds
OFI AMÖhman Fonder
Oldfield Partners
OPTrustOssiamOstrum Asset Management
P+, Pensionskassen for Akademikere
P1 Investment Management LtdPædagogernes Pension (PBU)

DISCLOSURE INSIGHT ACTION

Palisade Investment Partners Limited
Pantheon Ventures
Pathfinder Asset Management
PenSamPensioenfonds DetailhandelPensioenfonds Metaal en Techniek (PMT)
PensionDanmark
Pensionskasse AR
Pensionskasse Bank CIC (Schweiz)
Pensionskasse Basel-Stadt
Pensionskasse Bühler AG Uzwil
Pensionskasse Caritas
Pensionskasse der Basler Kantonalbank
Pensionskasse der Stadt FrauenfeldPensionskasse der Stadt Winterthur
Pensionskasse Pro Infirmis
Pensionskasse Römisch-katholische
Landeskirche des Kantons Luzern
Pensionskasse Schaffhausen
Pensionskasse SRG SSR
Pensionskasse Stadt Luzern
Pensionskasse Stadt St. Gallen
Pensionskasse Unia
Personalvorsorgekasse der Stadt BernPFA Pension
PGGM
Phitrust
PIMCO
PKA
Polden-Puckham Charitable Foundation
Postevita
Power Pacific Investment Management Inc.
Prévoyance Santé Valais (PRESV)
prévoyance.ne
PriorNilsson Fonder
Profelia Fondation de prévoyance
Prosperita Stiftung für die berufliche Vorsorge
Qualitas Equity Funds
Quintet Private Bank
Raiffeisen Pensionskasse Genossenschaft
RAM Active Investments SA
Rathbone Brothers PLC
Regroupement pour la Responsabilité
Sociale des Entreprises (RRSE)
Rentes Genevoises
Resona Asset Management Co., Ltd.
Rize ETF
RobecoRoyal London Mutual Insurance Society
RP - Fonds institutionnel
RPMI Railpen

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Ruffer LLP
Russell Investments
Sampension Administrationsselskab A/S
San Francisco Employees’ Retirement
System (SFERS)Sant Charitable Foundation, Inc.
Santander Asset Management
Sarasin & Partners LLP
SAUL Trustee Company
Schroders
Scientific Beta
SCOR SE
Scottish Widows Group Limited
SEB Investment Management
Secunda Sammelstiftung
Servite Friars
Seventh Generation Interfaith Inc
SharePower Responsible Investing
Sisters of Mary Reparatrix
Sisters of St. Francis of Philadelphia
Sisters of the Holy Cross
Skandia Fonder
Skandia Liv
Smart Private Managers (Luxembourg) S.a.
Söderberg Partners Asset Management
Solaris Investment Management Limited
Sophia University
Sp-Fund Management Company Ltd
Spida Personalvorsorgestiftung
St. Galler Pensionskasse
St. James’s Place Wealth Management
Stafford Capital Partners
State Street Global Advisors
Statewide Super
Stiftung Abendrot
Storebrand Asset Management
Strathclyde Pension Fund
Sumitomo Mitsui Trust Asset Management
Summit Charitable Foundation, Inc.
Sustainable Network
SVA Zürich
Swedbank Robur
Swiss Federal Pension Fund PUBLICA
Swisscanto Invest by Zürcher Kantonalbank
Sycomore Asset Management
Tabula Investment Management Limited
Tawreeq Holdings Limited
TBF Global Asset Management
Telligent Capital Management Limited
Terra Alpha Investments
Terre des hommes Schweiz

DISCLOSURE INSIGHT ACTION

The Atmospheric Fund
The Barrow Cadbury Trust
The Church Pension Fund (Finland)
The Dai-ichi Life Insurance Company,Limited
The David Rockefeller Fund
The Highland Council Pension Fund
The Pension Protection Fund
The University of Glasgow
The William Leech Foundation Limited
Thematics Asset Management
TOBAM
Tribe Impact Capital LLP
Trillium Asset Management
Trinetra Investment Management LLP
Triple Point
UBS Asset Management
Unfallversicherungskasse des Basler
Staatspersonals
Union Bancaire Privée, UBP SA
Union Investment
Unipol Group
UniSuper
Université de Genève (UNIGE)
Universities Superannuation Scheme - USS
University of Toronto Asset Management
Valo Ventures
Van Lanschot Kempen
Vancity Investment Management Ltd. (VCIM)
Varma Mutual Pension Insurance Company
Vauban Infrastructure Partners
Velliv
Vendis Capital
Verein Barmherzige Brüder von Maria-Hilf(Schweiz)
Veritas Investment Partners (UK) Limited
Vert Asset Management
VidaCaixa
Vision Super Pty Ltd
VontobelVorsorge SERTO
Washington State Investment Board
Water Asset Management LLC
Wermuth Asset Management GmbH
Wespath Benefits and Investments
West Yorkshire Pension Fund
Wetherby Asset Management
WHEB Asset Management
Whitehelm Capital
Zevin Asset Management
Zurich Insurance Group7