Sumitomo Mitsui Trust Asset Management Co., Ltd. (Representative Director and President: Yoshio Hishida; hereinafter "SuMi TRUST") is pleased to announce that it has become a signatory to the Net Zero Asset Managers initiative, a new initiative launched in December 2020 by global asset managers that seeks to reduce the greenhouse gas emissions of investee companies to net zero by 2050.
SuMi TRUST supports the objectives of the Paris Climate Agreement, which calls for efforts to limit the increase in global average temperature to 1.5 degrees Celsius, well below the 2 degrees Celsius level above pre-industrial era levels, and in line with this goal, is participating in the Net Zero Asset Managers initiative, one that is seeing global asset management companies coming together to support the goal of net zero greenhouse gas emissions by 2050. We recognize that the impact of climate change is steadily becoming apparent and that asset management companies have a significant role to play in resolving one of the biggest challenges now facing the global community.
As a responsible institutional investor that supports Japan’s Stewardship Code and a signatory to the Principles for Responsible Institutional Investors (PRI), SuMi TRUST aims to achieve sustainable growth and sustainability for companies and society as a whole by encouraging companies in its portfolio to address Environment, Social and Governance (ESG) through their business operations. Even after the participation of this initiative, we will remain committed to contributing to the smooth transition to a low-carbon and decarbonized society through engagement, the exercise of voting rights, and the composition of appropriate products by properly identifying risks and opportunities relating to climate change issues.