Investor Action on AMR Public Investor Statement
As partners of the Investor Action on AMR Initiative we are writing this openstatement in our capacity as institutional investors and investor representatives tostress our concerns regarding antimicrobial resistance (AMR) as a systemic risk toinvestment portfolios, economic stability and to broader society.
AMR has been declared one of the top ten global threats to human health. Without
access to effective antimicrobials, the foundation of modern medicine is being
undermined with ten million people expected to die every year by 2050. Driven by
global overuse and misuse of antimicrobials in humans, animals and agriculture, andthe subsequent spread of antimicrobial residues into the environment, AMR has
become a systemic risk akin to climate change and nature loss.
To mitigate the risk of AMR, a ‘One Health’ approach is required, with all stakeholders– including governments, policy makers, intergovernmental organisations, academia,investors and companies - taking an active part in addressing the underlying drivers ofAMR. While the UN General Assembly’s first High Level Meeting (HLM) on AMR in2016 generated much needed progress and initiatives, momentum has since stalled.
With the global economic costs associated with AMR likely to reach $100 trillion andlead to a 3.8% decrease in global GDP by 2050, the investor community is
increasingly concerned with the negative impact AMR will have on global financial
markets, economic stability and long-term value generation.
As such, and with the second HLM on AMR fast approaching in September 2024, we,the undersigned, urgently call for global leaders and policy makers to reinvigorate
efforts, coordinate action, and reaffirm commitments to combat AMR.
As institutional investors and investor representatives, we consider the following
seven asks to be essential in tackling the systemic risk that is AMR:
Science-based Guidance and Targets
1. We encourage global policymakers to support the establishment of an
independent panel, modelled on the International Panel on Climate Change(IPCC), to provide policymakers with regular scientific assessments on AMR.
2. We encourage global policymakers to support the development of aninternational framework, such as the Montreal Protocol or the Paris
Agreement, for AMR with a science-based target to guide sustained andcohesive action on AMR.

Stewardship and One Health
3. We encourage global policymakers to commit to reductions in the use ofantibiotics in agriculture and end the routine use of antibiotics for growthpromotion and group prophylaxis in animal farming.
4. We encourage global policymakers to adopt legislative initiatives to set
maximum residue limits for antibiotics in wastewater from manufacturing
facilities. We encourage global policymakers to establish appropriate
mechanisms to manage antibiotic residues entering the environment fromadditional sources such as livestock manure and wastewater treatment
systems.
Integrated Surveillance
5. We encourage global policymakers to continue to support the establishment ofa globally integrated surveillance system for AMR and antibiotic use, building
on existing quadripartite surveillance systems, to identify patterns and reactaccordingly. This should integrate data across humans, animals and theenvironment. In particular, global policymakers should align on legislativerequirements, similar to those of EU member states, requiring the volume anduse of antibiotics in animal agriculture to be accurately collected and reported.
Funding the Development of New Antimicrobials
6. We encourage global policymakers to continue to promote research anddevelopment (R&D) of new antimicrobials and alternatives to antimicrobials,
especially those that target priority pathogens as defined by the World HealthOrganisation ensuring the needs of low-and middle-income countries (LMIC)
are taken into account. We note that several G7 countries have introduced
push and pull incentives and encourage other nations to put similar
mechanisms in place to ensure the future development and availability ofcritical antimicrobials and alternatives to antimicrobials.
Global Equitable Access
7. We encourage global policymakers to address the lack of equitable global
access to novel and existing antimicrobials and alternatives to antimicrobials.
This could be supported by establishing a multilateral fund to provide
financing to LMICs to drive equitable access to antimicrobials; engaging withthe generics and biosimilars market to incentivise that they work to meet
supply and demand with quality assured products; supporting theimplementation of national action plans; improving surveillance systems; andmandating early access planning in all R&D collaborations.

Signatories
Aviva Investors
AchmeaAchmea Investment Management
Adasina Social CapitalAlquity
AP7 (Seventh AP Fund)
ARGA Investment Management
Australian Ethical Investment
AXA Investment Managers
BNP Paribas Asset Management
Bonafide Wealth Management AG
Boston Trust Walden
Brunel Pension Partnership
Candriam
CardanoEdmond de Rothschild AssetManagement (France)
EOS at Federated Hermes Limited
Ethical Partners Funds Management
Everence and the Praxis Mutual Funds
Figure 8 Investment Strategies
Fulcrum Asset Management LLP
Genesis Investment Management, LLP
Handelsbanken Fonder
HESTA
HSBC Bank Pension Trust (UK) Limited
Interfaith Center on Corporate
Responsibility
Jlens
Länsförsäkringar AB

Castlefield Investment Partners

Legal & General Investment
Management Ltd

CDPQLuzerner Kantonalbank

Church of England Pensions Board

M&G Investments

CMA Impact Inc

Maryknoll Sisters

Coller Capital

Miller/Howard Investments, Inc.

Coöperatie VGZMirovaCouncil on Ethics, Swedish National
Pension Funds

Missionary Oblates of Mary
Immaculate

Dana Investment Advisors

Natural Investments

Downing LLP

Newton Investment Management
LimitedEdenTree Investment Management

Nomura Asset Management Co., Ltd.

Nordea Asset Management

Value Partners Group Limited

Parnassus Investments

Vancity Investment Management

Pictet Group

Varma Mutual Pension Insurance
CompanyRadiant Global Investors
RAM aiRiver Global Investors
RobecoRoyal London Asset Management
School Sisters of Notre Dame
Collective Investment FundSEB Asset Management
Sisters of Mary Reparatrix
Skandia
Sonen Capital
Stichting Pensioenfonds Medewerkers
Apotheken (PMA)
Sumitomo Mitsui Trust AssetManagement Co., Ltd.
The Folksam GroupThe Seva Foundation
Tribe Impact Capital
Trillium Asset Management
Trinity Health
Triodos Investment Management
Tundra Fonder
United Church Funds
University Pension Plan
USS Investment Management Limited(USSIM).

VvAA Groep B.V.
VvAA Schadeverzekeringen N.V
Wesleyan Assurance Society
West Yorkshire Pension Fund
WHEB