Aegon Asset Management (AM) has become the latest signatory to the Net Zero Asset Managers initiative, committing to net-zero greenhouse gas emissions for its general account investment by 2050.

The firm will also join the Net-Zero Asset Owner Alliance, a United Nations-convened group of institutional investors.

By becoming a signatory, it has committed to supporting the goal to reach net-zero greenhouse gas emissions by 2050 or sooner, in line with global efforts to limit global warming to 1.5 degrees Celsius.

To meet these commitments, Aegon AM has pledged to look at increasing the share of assets managed in-line with the attainment of net zero by 2050 or sooner, beginning with those managed on behalf of other Aegon Group companies.

It will also prioritise reductions in the real economy by continuing its engagement programme, using its influence with investee companies to encourage continued greenhouse gas measurement, targets and reduction.

Aegon AM chief executive, Bas NieuweWeme, commented: "We are all very aware of the impact emissions are having on our planet’s climate and the need to act now before it is too late.

"As investment managers we believe we can play a vital role by encouraging those companies in which we invest to also reduce theirs and move to zero emissions, for the sake of future generations."

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