Kearney Group joins global financial leaders with $33 trillion USD AUM in climate action statement.

Author Annie Lillico Lewis

Expert Reviewer Paul Kearney, CPA, CFP®

Kearney Group is proud to announce its commitment to the 2024 Global Investor Statement, joining a coalition of over 650 financial institutions representing more than $33 trillion USD in assets under management. The Statement calls for urgent, accelerated policy action to drive the transition toward a sustainable, net-zero future.

This latest step reinforces Kearney Group’s position on climate action and aligns with the firm’s investment philosophy, its views on ESG integration, and its advocacy for emerging practices like impact accounting.

A global call for action.

By signing 2024 Global Investor Statement to Governments on the Climate Crisis, Kearney Group joins a powerful coalition of investors taking action to address climate-related financial risks — from transition and decarbonisation risks, to the costs of natural disasters and biodiversity loss.

The signatories have committed to pressing governments to adopt robust climate policies and delivering on their own climate action plans, all while delivering long-term results for beneficiaries and clients.

Group CEO Paul Kearney says “We stand at a crossroads. The decisions and investments we make today will determine whether we meet global climate targets, or miss them and risk unleashing irreversible domino effects. Signing this statement is a signal of our commitment to both hope and action.”

2024 Global Investor Statement’s 5 policy actions.

The 2024 Global Investor Statement says limiting global temperature rise to 1.5°C requires a “whole-of-government approach” and names 5 essential policy actions required to unlock the public and private capital flows needed for the net-zero transition.

It calls on governments to:

1. enact a range of economy-wide public policies on climate;
2. implement sectoral strategies, especially in high-emitting sectors;
3. address nature, water and biodiversity-related challenges;
4. mandate climate-related financial disclosures; and
5. mobilise private investment in emerging markets and developing economies.

The Statement includes a list of “Investor Asks of Governments” which provides detail on these 5 policy actions, and also emphasises the need for public-private collaboration to ensure a just and equitable transition to net-zero.

As investors and portfolio advisers, we are committed to collaborating with industry bodies and policymakers to drive sustainable economic growth and achieve global climate targets for the good of both people and the planet.

Scaling private sector investment.

The 2024 Global Investor Statement also emphasises the need for rapid scaling of private sector investment.

“The climate crisis isn’t just a global challenge — it’s also an urgent financial one,” says Paul. “If we are to meet the Paris Agreement’s goals, we need bold action and collaboration from every corner of the finance world.”

Global policies like the U.S. Inflation Reduction Act and the EU Fit-for-55 program have accelerated clean energy investments by 40% since 2020, reaching an estimated USD 1.8 trillion in 2023. However, these efforts still fall short of the $4.8 trillion needed annually by 2030 to meet net-zero goals.

Moreover, emerging markets and developing economies (EMDEs) continue to face significant underinvestment, despite bearing disproportionate levels of risk posed by climate change. COP28 reinforced the urgent need for private sector investment — particularly in EMDEs — to support a just and equitable transition from fossil fuels to net-zero energy systems.

Leadership by investors.

Investors are increasingly recognising the risks and opportunities tied to the climate transition, which will shape the future of portfolios and the global economy.

“The risks of climate inaction are too great for investors to ignore,” says Paul. “Climate change isn’t coming. It’s here. And if we don’t find a way to properly quantify externalities and incentivise climate investment, the long-term cost will be far greater than any financial return.”

And the world does seem to be awakening to this fact. The meteoric rise of, and global appetite for, ESG and impact reporting signals a critical shift in how we measure success.

Picking investments based on profits and returns alone is no longer sufficient. Today, investors are looking beyond traditional metrics, considering externalities and non-financial factors when assessing long-term value and risk — recognising that even the highest returns can be misleading if they ignore broader impacts.

Leading the charge.

In signing the 2024 Global Investor Statement, Kearney Group underscores our dedication to taking meaningful, measurable, positive steps in the fight against climate change. It’s a powerful pledge to invest responsibly, reduce risks, and create lasting value.

“As stewards of capital, we can lead the charge in financing a just and sustainable transition,” says Paul.

“Our commitment today is one step in ensuring that generations to come inherit a liveable planet and hopeful future. And by any measure, I think that’s a very worthwhile investment.”

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