to our businesses and economies. The risks posed across all sectors are real, existential and threaten the stability of our economies and financial systems if not appropriately addressed or integrated into business plans and strategies. As we approach the UNFCCC COP26, the role of the financial sector in achieving global low carbon transition ambitions has been spotlighted, calls to action have been amplified and ambition has been raised by many asset owners joining the fight against dangerous climate change.

In September 2019, at the Secretary General’s Climate Action Summit, the United Nations-Convened Net-Zero Asset Owner Alliance was launched. This international collaboration of asset owners was convened by the UN Environment Programme Finance Initiative (UNEP FI) and the Principles for Responsible Investment (PRI) to respond to Article 2.1c of the UN Paris Climate Agreement and enable financial flows to support the transition to net-zero CO2 emissions economies by 2050. In advance of COP26, this inaugural UN-convened Net-Zero Asset Owner Alliance Progress Report highlights the key actions, achievements and milestones ahead for the Alliance and its members.