Germany’s Allianz is a member of Net-Zero Asset Owner Alliance
Investors warn against carbon removal
UN-convened alliance of financial institutions demands focus on carbon mitigation rather than removal
Eighty-four financial institutions with more than $11tn in assets under management have jointly warned companies in their investment portfolios against the use of carbon dioxide removal (CDR) technologies such as direct air capture to meet emission reduction targets. The guidance is contained in an updated protocol published this week by the Net-Zero Asset Owner Alliance, a group convened by the UN and whose members include Aviva, Societe General, Allianz and Credit Agricole. The alliance’s members are committed to transitioning their investment portfolios to net-zero greenhouse gas emissions by 2050. “With carbon removal technologies yet to impact at scale, the alliance guides members to en
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