NEW YORK, November 2, 2021 / PRNewswire / – Neuberger Berman, a private, independent, employee-owned investment manager, today announced that the company has joined the Net Zero Asset Managers initiative, which aims to achieve net emissions zero in accordance with the Paris Agreement. From November 1, 2021, the initiative included 220 signatories representing $ 57 trillion in assets under management.
The company will initially partner with selected clients who share the ambition to achieve net zero emissions by 2050 or earlier. As part of this commitment, the portfolio managers of the company through the sustainable investment strategies of its public equities and its taxable fixed income public funds have affirmed their intention, in accordance with their stated objectives and strategies and in accordance with their own targets, to invest in order to achieve net zero alignment.
Along with joining the Net Zero Asset Managers Initiative, Neuberger Berman is pleased to announce that it has formed an ESG Advisory Board to provide external expert advice on key sustainability topics, including the net zero.
Georges walker, Chairman and CEO of Neuberger Berman, said: âWe believe that joining the Net Zero Asset Managers Initiative as well as forming the Neuberger Berman ESG Advisory Board is a natural extension of our leadership in the ESG investment landscape. Neuberger Berman already manages zero mandates for climate-focused clients, including a Â£ 1.3 billion multi-asset credit mandate from the Brunel Pension Partnership, an institution dedicated to responsible investing. We look forward to designing leading climate-related investment solutions in partnership with our clients around the world.
Jonathan bailey, Head of ESG Investments at Neuberger Berman, added: âWe believe that financial institutions have a key role to play in mitigating climate change and the risks it poses to businesses and the global economy. our fiduciary responsibility and our long-term investment philosophy of seeking to maximize risk-adjusted returns for our clients.In addition, we believe we have a clear responsibility to actively engage with companies that have not yet aligned their business model with the transition to net zero in order to mitigate the risk of issuers being overloaded with stranded assets. “
Neuberger Berman’s ESG Advisory Board is made up of respected thought leaders in the ESG landscape, including:
- George Serafim – Charles M. Williams Professor of Business Administration and Chair of the Impact-Weighted Accounts Project at Harvard Business School
- Ben caldecott – Director, Oxford Sustainable Finance Program and founding director of the UK Center for Greening Finance & Investment
- Mindy Lubber – President and CEO of Ceres, a non-profit organization focused on sustainable development based in Boston, Massachusetts
- Vijay Advani – Former Executive Chairman of Nuveen, the investment management arm of TIAA, and current Chairman of the Global Board of Directors of the US-India Business Council
The initial objective of the ESG Advisory Board will be to review and provide feedback on Neuberger Berman’s approach to further align the portfolio with a goal of net zero emissions. In addition, the ESG Advisory Board will focus on improving the methodologies used to measure sustainable results.
As a global leader in the asset management industry, Neuberger Berman is committed to staying at the forefront of ESG investing to achieve a more inclusive and sustainable future. In its most recent assessment, the UN-backed Principles for Responsible Investment named Neuberger Berman a âPRI Leader,â an award won by only 20 of its more than 2,100 PRI signatories.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent and employee-owned investment manager. The company manages a range of strategies, including equities, fixed income, quantitative and multi-asset classes, private equity funds, real estate and hedge funds, on behalf of institutions, advisers and individual investors around the world. With offices in 25 countries, Neuberger Berman’s diverse team consists of more than 2,400 professionals. For seven consecutive years, the company has been named first or second in the Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 or more employees). In 2020, the PRI named Neuberger Berman Leader, a designation awarded to less than 1% of investment firms for excellence in their environmental, social and governance (ESG) practices. The PRI also awarded Neuberger Berman an A + in each eligible category for our approach to ESG integration across all asset classes. The company manages $ 437 billion in customer assets at September 30, 2021. For more information, please visit our website at nb.com.
Neuberger Berman’s ESG Advisory Board will not make investment or voting recommendations.
The year 2020 represents the first year that asset managers became eligible for the PRI Leader designation, which previously only included asset owners. The new designation was only granted to 20 of the 2,100+ investment managers who signed the PRI. The Leaders Group highlights signatories at the forefront of responsible investment and highlights trends in their actions. PRIs use signatory responses in their reports and assessment data to identify those who are doing a great job in responsible investing, across their organizations and focusing on a given theme each year. The 2020 theme is climate reporting. The information about PRI Leader comes entirely from PRI and Neuberger Berman makes no representations, warranties or opinions based on this information.
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