Pension funds, sovereign funds and life insurers investing in Asia have made meaningful progress on key climate-aligned investment practices, according to new analysis of 100+ major Asset Owners released today by the Asia Investor Group on Climate Change (AIGCC).
Increases from 2024 to 2025:
- Formal Recognition of Climate as an Investment Risk: 3 point increase to 63%
- Physical Climate Risk Disclosure: 6 point increase to 33%
- Climate Solutions Investment Target: 11 point increase to 44%
- Commitment to Net Zero: 6 point increase to 40%
- Policy on Deforestation: 5 point increase to 13%
This progress by large asset owners comes despite an incorrect perception that, globally, institutional investors and businesses are de-prioritising climate factors, or that financial performance is incompatible with progress on climate.
This new data shows that increasingly in Asia, as well as in other markets, institutional investors understand the value of climate progress to their businesses.
The AIGCC 2030 Asset Owner Playbook
Alongside these new data points, AIGCC has released a playbook for Asset Owners. It shows how pension funds, sovereign funds and life insurers have been able to drive positive investment returns, while making progress on the key practices in the transition to climate resilient, net zero economies.
Download the Report
AIGCC CEO, Rebecca Mikula-Wright, said:
“This important progress continues to build momentum among major investors in Asia, a region that is absolutely critical to the ongoing growth and sustainability of the global economy.
“This Playbook shows Asset Owners’ progress in Asia debunks the narrative that there’s a global pullback in climate ambition. In fact it signals to asset managers what their clients are looking for – to manage the risks and find opportunities in the transition.
“Leading investors in this region have clearly recognised that managing climate risks and opportunities is not woke, it’s just excellent business.
“AIGCC’s new playbook gives actionable insights on how the region’s asset owners are driving strong financial returns now alongside the climate progress that will ensure those returns are consistent for the long term.”
The Asia 2030 Climate Playbook includes:
- Case studies from AIA, CalPERS, Income Insurance, Indonesia Investment Authority (INA), La Caisse, and Permodalan Nasional Berhad (PNB)
- A breakdown of the approaches to sustainable and climate investing and how they can be used by different types of asset owners
- Four strategic archetypes
- A clear process for Asset Owners designing a climate strategy
The playbook was reviewed in consultation with the October 2025 Asset Owners working group session, whose 28 participants collectively manage USD 6.6 trillion in assets under management (AUM).
Dato’ Rick Ramli, Deputy President and Group Chief Executive of Permodalan Nasional Berhad (PNB), said: “We take a whole-of-portfolio approach to integrating climate considerations across our asset classes as part of our broader sustainability commitments.
“The case study in this report highlights how we are progressively embedding climate considerations into our investment processes while supporting the transition towards a low-carbon economy.
“As a recent full member of AIGCC, we look forward to continued collaboration with fellow members and contributing to collective efforts that advance pragmatic and responsible climate investment strategies.”
Eddy Porwanto, Acting Chief Executive Officer of INA, stated: “INA is pleased to join AIGCC and fellow asset owners in contributing to this initiative. In a region as diverse as Asia, recognising the differences in investment mandates, risk appetites, and regulatory environments across various types of asset owners is essential to developing practical approaches to climate and sustainable investing. The Playbook reflects these realities, and we welcome the opportunity to share a case study on how INA focuses on driving value creation while supporting Indonesia’s broader national climate agenda and integrates ESG considerations into our investment approach.”
David Chua, Chief Investment Officer of Income Insurance, said: “As a leading Singapore composite insurer and long-term investor, we’re excited to share our case study in the Playbook – highlighting our ‘Understand, Act, Influence’ – 3-pronged sustainable investment strategy to scale climate solutions via our S$1billion climate transition pledge. As an AIGCC member, we welcome this practice guide consolidating diverse asset owner perspectives and approaches. It is a significant milestone as the Asset Owners’ Program inaugural publication, and supports fellow asset owners on their climate investment journey while helping asset managers and non-investors better understand the asset owner viewpoint.”
Following the release of the Playbook, join us for this public briefing exploring how Asian asset owners are advancing climate and sustainable investing, and what credible 2030 climate strategies look like in practice.
Building on insights from the Playbook, this session will unpack how leading investors are approaching climate risk, opportunity and long-term value creation.
Date: Thursday, April 23rd 2026
Time: 3:00pm – 4:00pm HKT/SGT (GMT+8)
Register here