Climate Action 100+

Climate Action 100+ was launched in December 2017 at the One Planet Summit in Paris as a five-year initiative and was later extended into a second phase running from 2023 through 2030. It coordinates institutional investors—pension funds, asset managers, and insurers—who collectively manage tens of trillions of dollars in assets, to engage in dialogue with companies identified as systemically important to the net-zero transition.

The initiative is coordinated by five investor networks: the Asia Investor Group on Climate Change (AIGCC), Ceres, the Investor Group on Climate Change (IGCC), the Institutional Investors Group on Climate Change (IIGCC), and the Principles for Responsible Investment (PRI). Target companies—roughly 170 "focus companies" responsible for a large share of global industrial emissions—span sectors including oil and gas, utilities, mining, steel, cement, automotive, and aviation.

Engagement is structured around three core asks: (1) implement a strong governance framework clearly articulating board accountability for climate change; (2) take action to reduce greenhouse-gas emissions across the value chain consistent with the Paris Agreement's goal of limiting warming to well below 2°C; and (3) provide enhanced corporate disclosure in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). Progress is tracked publicly through the Net Zero Company Benchmark, first published in March 2021.

The initiative has been credited with helping prompt net-zero commitments at companies such as Shell, BP, and Glencore, though critics argue voluntary engagement produces incremental change rather than absolute emissions cuts. In 2024, several large U.S. asset managers—including JPMorgan Asset Management, State Street Global Advisors, and Pimco—withdrew or scaled back participation amid political pressure in the United States over ESG investing and antitrust concerns about coordinated shareholder action. BlackRock transferred its membership to its international arm. The departures highlighted tensions between collective investor stewardship and U.S. regulatory and political scrutiny.