The Church of England Pensions Board says it will leave the Net Zero Asset Owners Alliance.

Adam Matthews, Chief Responsible Investment Officer at the Church of England Pensions Board said that the pensions board found it difficult working with the NZAOA and co-chairing the Paris Aligned Asset Owners Steering Committee. “Although supportive of both initiatives, given the size of the organisation, it was not tangible to maintain two reporting frameworks and a clear focus on one net zero initiative was needed”, he said.

The NZAOA has seen many members leave in recent weeks after the group has been criticised for failing to call for an end to fossil fuel investments and for not providing clear guidelines on engagement. An ESG backlash in the US has also led to the departure of many investment firms.
END