The UK Wealth Managers on Climate Group was formed in September 2023, with a collective objective of bringing together the UK wealth management industry to encourage asset managers to step up their climate change ambitions.

Today, the UK wealth management industry controls over £1 trillion of assets and accounts for around 11% of the UK asset management industry assets under management (AUM)¹. With climate change posing an unprecedented threat to global ecosystems, the group aims to bring wealth managers together to speak with one voice.

Recognising the highly strategic position wealth managers have within the wider investment system, nine members of the UK Wealth Managers on Climate Group (EQ Investors, Cazenove Capital, Paradigm Norton, Quilter Cheviot, Sarasin & Partners, Greenbank, 7iM, LGT Wealth Management, Tribe Impact Capital) – representing a total of £165 billion AUM combined – have come together to sign a letter which outlines three clear requests for asset managers to take on net zero:

1. Set a net zero commitment and ensure that targets are clear and transparent.
2. Communicate the approach clearly to both the business and clients.
3. Ensure that stewardship activities reflect net zero commitments and deliver tangible results.

Louisiana Salge, Head of Sustainability at EQ Investors commented:

“As the world moves to a net zero carbon future, we are committed to playing our part in addressing climate change, both as a business and as stewards of our clients’ assets. EQ Investors is proud to be part of this important initiative and contribute to an industry-wide push to accelerate accountability and disclosure.”

To read the full letter: Net-zero-open-letter

UK Wealth Managers on Climate Group

The “UK Wealth Managers on Climate” initiative is open to all wealth management firms in the UK that share a commitment to a more sustainable future.

^{1 https://www.theia.org; based on estimation that UK asset management industry is estimated at £9.1trn and the UK wealth management industry is estimated at £1.1trn as at December 2023.}