The Net Zero Asset Managers (NZAM) initiative is officially relaunched, with 250 asset managers signed on to the updated Commitment Statement.

However, after its year-long sabbatical, the new look NZMA has adopted to a new political landscape with looser rules and a noticeably smaller number of US companies.

The group no longer requires members to align their investment portfolios with net-zero by 2050 or set a 2030 target. The new statement calls on asset managers to participate in NZAM, noting the initiative is aligned “with key principles that help guide best practice investment strategies” and remains anchored in the objectives of the Paris Agreement, while also reflecting diverse jurisdictional realities and maintaining alignment with leading methodologies.

Major US managers missing in action include, JPMorgan Asset Management and thirty other US-based concerns, leaving just 12 U. companies returning.

Five years on from its inception, the updated Commitment Statement reflects, according to NZAM, feedback from signatories and stakeholders during a six-month strategic review. In what the group called a “new chapter for NZAM” it said that it had received strong support from the asset owner community, including a public statement from a group of more than 50 asset owners representing over $3.7trin assets.

“Asset managers participating in NZAM send a strong signal to clients, regulators, and other key stakeholders that they are forward-looking, transparent investors, committed to managing climate-related financial risk and opportunity,” said Rebecca Mikula-Wright, chair, NZAM’s steering committee.

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