The Net Zero Asset Managers Initiative (Initiative) is an international group of asset managers committed to supporting the goal of net zero greenhouse gas emissions by 2050 or sooner, which is in line with the Paris Agreement and the current science on global warming and climate change, explained Lance C. Dial, Morgan Lewis partner and co‑author of a white paper on the Initiative. Since the Initiative was launched, 220 asset managers with $57 trillion in assets under management have committed to the Initiative. This second article in a two-part series discusses applying the commitment to new funds versus existing funds, explains the role a firm’s CEO should play in the process, spells out the steps that managers should take to comply with the Initiative’s requirements and includes a checklist that managers can use to guide the process. The first article provided an overview of the Initiative, including who can participate in it, what asset managers should consider when deciding whether to commit to the Initiative and what that commitment requires from managers. See our two-part series on the SEC’s ESG risk alert: “Why the SEC Distinguishes ESG From Other Strategies and How to Prepare for a Potential Exam” (Jun. 8, 2021): and “Inadequate Controls, Policies and Procedures Concern SEC About ESG Practices Inconsistent With Disclosures” (Jun. 15, 2021).