The Eskom Pension and Provident Fund has signed up for the United Nation’s Net Zero Asset Owners Alliance as it pursues plans to cut its greenhouse-gas emissions to zero by 2050.
South Africa’s biggest self-administered fund becomes the third signatory in the country after insurers ARC and Old Mutual, and is the fourth in Africa, according to data from the United Nations Environmental Program.
Members of the UN-convened Net Zero Asset Owner Alliance commit to transitioning their investment portfolios to net-zero carbon emissions by 2050. The members have $11-trillion in assets under management globally.
Eskom Pension and Provident Fund manages R190-billion.