More than 40 new asset managers join a climate investor initiative. The association manages 32 trillion dollars – and increases the pressure on states and companies to become more sustainable.

The Amazon Rainforest: Investors are calling for a conclusive plan from the Brazilian government to combat deforestation and slash and burn.

Dhe two largest asset managers in the world, the American fund companies Blackrock and Vanguard, have joined the Net Zero Asset Managers investor initiative. A total of 43 new investors announced their entry in a joint statement on Monday, including the German Allianz Global Investors. The now 73 signatories manage $ 32 trillion in assets worldwide.

The investor network, which was only founded last year, has set itself the goal of making its portfolios climate-neutral by 2050 in order to limit global warming to 1.5 degrees. Climate change represents long-term material risks in the portfolios of investors, said Vanguard boss Tim Buckley. “We understand the important role that we and others play in tackling climate risks.” Net Zero Asset Managers is not the only initiative that sets its own sustainability goals in association with other investors. Climate Action 100+, an alliance of more than 540 asset managers, also supports the goals of the Paris Climate Agreement.

More and more donors are doing more to protect the environment. The large asset managers in particular have been criticized in the past for financing polluters. The fund companies themselves, on the other hand, repeatedly emphasize that climate risks also represent investment risks.

Protection of the Amazon rainforest

In order to push climate protection in companies and countries, some investors also threaten the complete withdrawal of funds, the so-called divestment. More and more large investors are joining forces to increase the pressure. On Monday, the Bank for Church and Caritas, together with the Brazilian Bishops’ Conference and the climate protection network Global Catholic Climate Movement, called on the government in Brazil to protect the Amazon rainforest.

From the point of view of almost 100 Catholic institutions, the Brazilian President Jair Bolsonaro is fueling the destruction of the rainforest and thereby intensifying climate change. If the government does not decisively oppose the deforestation and the disenfranchisement of the indigenous population, this increasingly deprives investors of the requirements for their investments in Brazilian government bonds and companies in certain sectors.