U.S. asset managers Franklin Templeton and MFS Investment Management are among the 41 new signatories, representing $6.8 trillion in assets, joining the Net Zero Asset Managers initiative.

The aim is to work with clients to reach net zero emissions alignment across their portfolios by 2050 or sooner and set interim 2030 emissions reduction targets. The additional participants mean a total 128 investors, collectively managing $43 trillion in assets, are now part of the initiative, the group announced Tuesday.

Other asset managers joining the initiative include Amundi, Sumitomo Mitsui Trust Asset Management, HSBC Asset Management and the International Business of Federated Hermes, among others. New signatories based in North America and Europe are joined by a marked uptick in the number of Asian managers now part of the initiative.

Read: CEOs want SEC climate reporting separate from earnings but concede new rules are likely

“We approach our journey with the clear acknowledgement that we must commit to finding the data and solutions to help us achieve global net zero emissions by 2050,” said Jenny Johnson, CEO and president of Franklin Templeton. “We will work toward this goal in a spirit of authentic engagement and partnership with our clients and stakeholders, in keeping with our belief that good stewardship as a global asset manager means managing and allocating capital to benefit our clients across generations.”

Read: Global investors with $54 trillion tell companies pledging net zero emissions to show their work

Launched in December 2020, in just over six months the Net Zero Asset Managers initiative has expanded. The latest additions take the initiative close to representing almost half of the entire asset management sector globally in terms of total funds managed — at $100 trillion.

Read: Bank of America’s Karen Fang says ‘business as usual is not OK’ for finance, the planet or social justice

“In a critical year for climate action, it is encouraging to see that nearly half of the global asset management sector has committed to achieving net zero emissions across its portfolios,” said Paul Simpson CEO of CDP, which helps companies track their environmental impact.

“We look forward to these commitments driving action through the setting of science-based emissions reduction targets, investment activity that is aligned with the Paris Agreement and near-term accountability and disclosure,” he said.

Read: Sustainable themes top investor searches, overshadow growth versus value debate, says DataTrek

The Net Zero Asset Managers initiative is managed globally by six founding partner investor networks: Asia Investor Group on Climate Change (AIGCC), CDP, Ceres, Investor Group on Climate Change (IGCC), Institutional Investors Group on Climate Change (IIGCC) and Principles for Responsible Investment (PRI).

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