Nomura Group company Nomura Asset Management (NAM) announced today a new commitment to achieve net zero emissions in its 67 trillion yen (nearly $600 billion) portfolio by 2050, as well as a goal to achieve carbon neutrality in its own operations.

In addition to its long-term portfolio decarbonization goal, the company also set a 2030 interim target to have 55% of its AUM managed in alignment with the 2050 net zero target, based on the ratio of individual companies in its holdings that have announced decarbonization targets.

The company outlined several of the initiatives that it will pursue in order to achieve its net zero portfolio goal, including the measurement and disclosure of the greenhouse gas (GHG) emissions associated with the securities it holds. NAM will measure emissions through the standards set by the Partnership for Carbon Accounting Financials (PCAF), which the company joined in August.

NAM also stated that it is developing financial products that contribute to the realization of a decarbonized society, enhancing its stewardship strategies including engagement and proxy voting consistent with its net zero ambition, strengthening collaboration with stakeholders, and offering government policy proposals in support of its climate goals.