Net Zero Asset Owner Alliance
Our first annual 2021 analysis of 46 NZAOA members showed patchy progress toward this commitment, with only 28% of members voting on climate-related shareholder proposals. NZAOA membership did not correlate with an increase in direct pro-climate voting compared to peers, and transparency around voting practices was very low.
In 2022, we repeated the study for 73 NZAOA members using updated data for 2022. We assessed NZAOA members on their net-zero implementation progress, proxy voting on climate resolutions, and bondholding exposure to fossil fuels. This was evaluated through three interrelated analyses:
1) Climate disclosure practice in publicly issued statements and reports;
2) Climate voting performance by comparing Principles for Responsible Investing (PRI) signatories with NZAOA peers (similar to the 2021 study); and
3) Fossil fuel bondholding behaviour through proportionality analyses using Bloomberg data.