Geneva, June 10, 2026 – The UN-convened Net-Zero Asset Owner Alliance (NZAOA) today announced its support of a joint investor statement led by the Principles for Responsible Investment (PRI) and the Institutional Investors Group on Climate Change (IIGCC), urging European policymakers to strengthen the EU Emissions Trading System (EU ETS) ahead of its upcoming review.
The statement, backed by 46 investor signatories representing over EUR 12.0 trillion in assets, calls for clear long-term carbon-pricing signals, credible market governance, and a stable policy framework that supports the EU’s competitiveness, investment, and net-zero transition.
NZAOA and its signatories argue that a dependable EU ETS gives investors the certainty they need to allocate capital toward the clean transition with confidence.
“A robust and predictable EU ETS is not just a climate tool; it’s the foundation on which long-term investment decisions are made. In a period of geopolitical uncertainty, policy stability is the most cost-effective stimulus Europe can offer. The NZAOA urges European leaders to strengthen the ETS as an investment signal that supports competitiveness, energy security, and the clean transition together.”
— NZAOA co-chairs Josselin Kalifa, Chief Investment Officer of the Caisse des Dépôts (CDC) Asset Management Division, and Toru Shindo, Chief Investment Officer of the United Nations Joint Staff Pension Fund (UNJSPF)
The EU ETS sets a price on carbon across key sectors of the European economy, making it one of the region’s central tools for cutting emissions. With the system due for review, investors are pressing for reforms that reinforce predictability and durability rather than introduce uncertainty. A stable framework, the signatories note, helps secure the long-term investment decisions that underpin Europe’s energy security and decarbonization goals.
NZAOA will continue to engage with European leaders and fellow investors as the review process advances, advocating for reforms that align climate ambition with economic resilience.
About the NZAOA
The UN-convened Net-Zero Asset Owner Alliance (NZAOA) is a signatory-led initiative of institutional investors committed to transitioning their investment portfolios to net-zero greenhouse gas emissions. NZAOA works to support a just and credible global transition, engaging with policymakers, companies, and the wider financial community to advance long-term, sustainable investment outcomes.
CONTACT
Oliver Wagg, Communications Lead, NZAOA
oliver.wagg@un.org