SLC Management, the institutional asset management business of Sun Life Financial, announced that its investment grade fixed income business, SLC Fixed Income, which oversees $139 billion in assets under management, is joining the Net Zero Asset Managers (NZAM) initiative, a coalition of asset managers committed to supporting the goal of net zero greenhouse gas emissions by 2050.
SLC Fixed Income joins the initiative alongside Sun Life Financial’s other asset management businesses MFS Investment Management, BentallGreenOak, InfraRed Capital Partners and SLGI Asset Management, as well as Sun Life’s General Account, which joined NZAM last year.
The Net Zero Asset Managers initiative launched in December 2020 with a group of asset managers committing to support the goal of net zero greenhouse gas emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5°C. Since launch, the initiative has grown rapidly to include more than 270 signatories, representing over $60 trillion in assets under management. The coalition forms part of the Glasgow Financial Alliance for Net Zero (GFANZ).
Tom Murphy, President, SLC Fixed Income, said:
“Our signing on to NZAM accelerates our actions to develop better ESG reporting tools, build more robust data analysis, pursue alternative energy investments, and advocate for change with the companies in which we invest.”
By joining the NZAM initiative, SLC Fixed Income commits to working in partnership with its clients on their decarbonization goals, consistent with the target to reach net zero emissions by 2050. Additionally, the company plans to set an interim goal for the proportion of assets to be managed in line with the target of net zero emissions by 2050, within 12 months of its commitment.
Anna Murray, Managing Director, Global Head of ESG, SLC Management, said:
“Joining NZAM is the next phase in our ESG journey, one in which we are committed to transparency, credibility and collaboration with our clients. With a rapidly shifting regulatory environment and increasing client demands, the investment community has a critical role to play in the transition to a low carbon economy. We look forward to working with our clients and in line with our global business objectives to mobilize capital in support of net zero.”