T. ROWE PRICE JOINS NET ZERO ASSET MANAGERS INITIATIVE
T. Rowe Price Group has joined the Net Zero Asset Managers initiative to support achieving net zero greenhouse gas emissions by 2050 or sooner.
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Rhea-AI Summary
T. Rowe Price Group has joined the Net Zero Asset Managers initiative to support achieving net zero greenhouse gas emissions by 2050 or sooner. The firm's CEO, Rob Sharps, highlighted the increasing demand for investment products aligned with net zero targets among clients. By establishing a net zero product range, T. Rowe Price aims to promote industry standards for transparency in investments. The firm manages US$1.55 trillion in assets, focusing on diversified and risk-aware investment strategies.
Positive
- Joined the Net Zero Asset Managers initiative to support net zero emissions goals.
- Aims to establish a net zero product range to meet client demands and promote transparency.
- Significant assets under management at US$1.55 trillion, enhancing credibility in sustainability initiatives.
Negative
- None.
Details
News Market Reaction – TROW
The recorded move for TROW in the trading session of this news was +4.78%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
BALTIMORE and LONDON , May 4, 2022 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), today announced it has joined the Net Zero Asset Managers initiative (NZAMI) to support the goal of net zero greenhouse gas emissions by 2050 or sooner, in line with global efforts to limit warming to 1.5 degrees Celsius. In joining NZAMI, the firm is fortifying its commitment to providing investment products for clients with net zero ambitions.
"A growing number of our clients are setting net zero targets and require products that meet their needs," said Rob Sharps, CEO and president of T. Rowe Price. "Joining the Net Zero Asset Managers initiative enables us to help our clients meet their net zero ambitions in a manner compatible with our fiduciary duty to our clients. We are excited to be a part of this important initiative."
"In establishing a net zero product range we want to promote a common industry standard, which we believe will ultimately provide better transparency for our clients," said Maria Elena Drew, a director of research for Responsible Investing at T. Rowe Price. "It is our intention that our net zero investment products will utilize the Paris Aligned Investment Initiative Net Zero Investment Framework, which is designed to allow for real economy transition to net zero."
ABOUT T. ROWE PRICE
Founded in 1937, Baltimore-based T. Rowe Price (troweprice.com) is a global investment management organization with US
View original content:https://www.prnewswire.com/news-releases/t-rowe-price-joins-net-zero-asset-managers-initiative-301539217.html
SOURCE T. Rowe Price Group, Inc.
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