In line with the global scientific consensus on the impacts of climate change, we acknowledge that the physical consequences of climate change are being experienced, are disruptive and are having significant direct and indirect economic costs, which are projected to increase if not effectively addressed. Policy responses in the transition to a low-carbon economy will be shaped by considerations including security, affordability and sustainability. This has financial implications across sectors, from energy to land use. As an asset manager, we recognise our fiduciary duties to consider how the financial risks and opportunities presented by climate change may impact client investment outcomes. In addition, we recognise that as asset managers we are able to support our clients through, for example, the development of investment products, the provision of data and information, and education and capacity-building on the financial implications of climate change. 

With the aim of delivering better investment outcomes, we recognise the importance of holding the increase in the global average temperature to well below 2°C above pre-industrial levels and of continuing to pursue efforts to limit the temperature increase to 1.5°C above pre-industrial levels, in line with the stated goals of the Paris Agreement. In this context, we commit to support investing aligned with the global goal of net zero greenhouse gas emissions as outlined below. 

In making this commitment, we recognise that the extent to which we can implement these actions depends on our clients and their approaches to climate change, on the enabling environment, in particular the policies and regulations adopted by governments and other public actors relating to climate change, and on the actions taken by companies and other actors. 

Therefore, where consistent with our fiduciary duties and, where applicable, client mandates, fund investment objectives and other legal obligations, we will: 

1. Provide our clients with information to help them understand and act on climate-related financial risks and opportunities. 
2. Support our clients to deliver on their climate goals. This may include increased investment in climate solutions, transition finance and climate-resilient investments. 
3. Set near-term climate targets consistent with the global goal of net zero greenhouse gas emissions, and review them periodically to reflect evolving financial risks, client expectations, and practices. 
4. Implement an investment stewardship strategy to support investees to address material climate risks and opportunities, consistent with our commitment above and positive long-term investment outcomes. 
5. Engage with key actors in the investment system (including, but not limited to, data and index providers, ratings agencies, stock exchanges, and investment consultants) to encourage the availability of products and services that appropriately reflect climate-related risks and opportunities. 
6. Ensure relevant policy advocacy we choose to undertake does not undermine these commitments. 
7. Publicly disclose a plan for implementing these commitments and report annually on the actions we have taken towards these, and any outcomes achieved.