Net-Zero Asset Managers Initiative suspends operations (2025)

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January 14, 2025

NZAM announced Jan. 13 that it is suspending operations and removing the commitment statement and list of signatories from its website. The group said in a statement it will reevaluate its plans and operations in light of “[r]ecent developments in the U.S. and different regulatory and client expectations in investors’ respective jurisdictions.”

Anti-ESG officials in the United States will likely perceive the suspension as a victory. The decision reshapes the global ESG landscape and highlights growing differences in expectations of regulators and investors around the world.

According to Pensions & Investments:

“

In a statement on its website posted Jan. 13, NZAM said that signatories will be consulted throughout the review process, and during the process is it suspending the tracking of signatory implementation and reporting, as well as removing the commitment statement and list of NZAM signatories from its website and their targets and related case studies. The suspension of NZAM activities is pending the outcome of the review to “ensure NZAM remains fit for purpose in the new global context,” according to the update. The announcement comes on the heels of BlackRock’s Jan. 9 letter to clients saying that it would be leaving the initiative. NZAM said in an earlier Jan. 13 statement that 'we are disappointed to see any investor withdraw, but as a voluntary initiative, we respect any individual decisions signatories take.'

”

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