Introduction

Commitment 1: Work with members to facilitate the highest standards of stewardship to provide the necessary support and challenge to investee companies in their transition to net zero business models.
Commitment 2: The IA will create guidance on how stewardship in fixed income could be improved.

The investment management industry is a global force, which – through its actions as long-term stewards of clients’ assets – is on a journey to support the delivery of the step change needed to make the Paris Agreement goals a reality.In November 2020, we published the industry’s blueprint for climate action. This paper confirmed climate change as one of the single biggest systemic risks facing society and the planet today and outlined several industry commitments and asks for UK Government to accelerate change and bolster the UK’s position as a global leader in sustainable finance.Since then, the IA has progressed work across all core industry pillars of climate action, as well as added new areas of focus, most notably net zero transition and utilisation of ESG data.This paper outlines progress made to date and articulates a fresh list of commitments for investment managers’ contribution to climate action.