Ambitious ‘net-zero’ carbon reduction goals are the latest in the evolution of asset owners’ engagement with climate change More and more asset owners are declaring net-zero goals. Launched in September 2019 with 12 founding members, at the time of writing the UN-convened Net-Zero Asset Owner Alliance (NZAOA) counted 33 members, but there are further investors with net-zero goals that are, for now at least, operating outside the framework of the NZAOA. It is also clear that other pension funds are, or will be, looking to set a net-zero target. Asset managers are also increasingly committing to net-zero, and in December 2020 announced a network of their own, the Net Zero Asset Managers Initiative.