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IGCC Submission to Senate Economics References Committee Inquiry into carbon risk disclosure
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Assessing Climate Change Risks and Opportunities for Investors:
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Thursday 2nd June 2016
Investors Identify Seven Climate Change Policy Priorities
The Investor Group on Climate Change (IGCC) has today published seven climate change policy priorities which investors believe are critical for managing risk and unlocking investment in low carbon finance opportunities.
“The seven policy priorities identified by investors have to be part of the climate change policy response in Australia to build investor confidence and get capital moving”, said Emma Herd, Chief Executive Officer of the Investor Group on Climate Change.
“Without stable and durable climate change policy settings grounded in broad bipartisan support, investors will not allocate capital to the kinds of long term clean energy and energy productivity investments required to achieve the goals Australia signed up to under the Paris Agreement”.Click here to download a copy of the media release
Friday 13th May 2016
Investor groups collaborate for Australian Launch of new action framework on sustainable real estate
SYDNEY – 13 MAY 2016: Today a unique coalition of global investor and property groups will launch the Sustainable Real Estate Investment - Implementing the Paris Climate Agreement: An Action Framework in Australia for the first time.Five of the world’s largest investor networks and RICS have come together, supported by the Global Alliance for Building and Construction, to publish a concise, actionable framework for Real Estate investors to help them make sense of existing Environment, Social and Governance (ESG) guidance and to accelerate their integration of ESG and climate risks and opportunities into investment decisions. The guide sets out a range of measures to improve returns or better protect the future value of real estate investments through application of an ESG and climate change management approach.
Presenting the framework in Sydney, Rowan Griffin, Head of Sustainability - Property at Lendlease, project team member of UNEP FI’s property working group and chair of IGCC’s property working group said, “The built environment is a significant contributor to Australia’s emissions, while also holding many opportunities to drive greater national energy productivity. Investors in real estate assets therefore have a key role to play in helping to meet the climate change goals set out in the Paris Agreement through their investment decisions. The launch of this Action Framework means that real estate investors now have the tools they need to take concrete steps to addresses climate change and deliver greater value.”
Friday 29th April 2016
Global investors launch guide to drive engagement on climate risk with the electric utilities sector
A week after more than 170 countries signed the Paris Agreement and investors voted on a shareholder climate risk resolution at the AGM of US utility AES Corporation, a global network of more than 270 institutional investors (representing assets worth over €20 trillion) has published a guide setting out the threats facing the utilities sector and investor expectations for how these companies must act to adapt their business strategies to a 2°C climate change pathway.
Launching Investor Expectations of Electric Utilities Companies - Looking down the line at carbon asset risk Stephanie Pfeifer, CEO at the Institutional Investors Group on Climate Change said today:
“With so many countries now clearly committed to implementing the Paris Agreement, institutional investors are concerned that some electric utility companies are not sufficiently prepared for the transition to a lower carbon economy necessary to limit global warming to well below 2°C. Today the global investor community is setting out as clearly as possible their expectations for utility companies on actions required to address climate change risks.”
Wednesday 27th April 2016
ALP climate change policy marks positive progress
The Investor Group on Climate Change (IGCC) welcomes the release of Labor’s Climate Change Action Plan. This policy package includes many elements that investors are looking for, including long term policy signals, an integrated approach to carbon and energy policy and market based carbon pricing mechanisms.
“If Australia is to meet the goals set out in the Paris Agreement signed last week, we need a clear and credible pathway to a net zero carbon economy”, said Emma Herd, Chief Executive Officer of the Investor Group on Climate Change.
“The ALP climate change policy is an important step forward in tackling some of the key carbon policy levers we need to get right to future proof our economy and keep climate change below 2C.”
Tuesday 19th April 2016
Global Investor Groups Urge World Leaders To Sign And Accede To The Paris Climate Agreement Rapidly
IGCC has joined global investor groups calling for world leaders to sign and accede to the Paris Climate Agreement rapidly.
See here for joint press notice.
The letter is published on the Investor Platform on Climate Change here.
Friday 1st April 2016
Investors welcome first report from Task Force on Climate-related Financial Disclosure (TCFD)
The Investor Group on Climate Change (IGCC) welcomes the release of the first report from the Financial Stability Board’s (FSB) Task Force on Climate-related Financial Disclosure (TCFD).
“Investors have been asking for better carbon risk disclosure from business for many years now, as they seek to understand how the regulatory response and physical impacts of climate change will impact company returns. While progress has been made, significant gaps in corporate reporting on carbon risk remain,” said Emma Herd, Chief Executive Officer of the Investor Group on Climate Change.
“Strengthening and standardising corporate disclosure on climate-related financial risks is crucial.”
Wednesday 23rd March 2016
Investors welcome government decision to support clean energy investment
The Investor Group on Climate Change (IGCC) welcomes reports of the Government’s decision to retain the Clean Energy Finance Corporation (CEFC) and Australian Renewable Energy Agency (ARENA) and to establish the Clean Energy Innovation Fund (CEIF).
“The decision to retain and support Australia’s clean energy finance bodies is a positive one”, said Emma Herd, Chief Executive Officer of the Investor Group on Climate Change (IGCC).
“The market recognises that an economically efficient transition to a low carbon economy must involve greater investment in clean energy and low carbon technology. There is no shortage of investor appetite for low emissions technologies and clean energy, but getting the policy signals and investment settings to align is critical to moving capital”.
Thursday 4th February 2016
Investors welcome Senate inquiry into carbon risk disclosure
The Investor Group on Climate Change (IGCC) welcomes today’s vote to establish the Senate Economics References Committee Inquiry into Carbon Risk Disclosure.
“This is an important milestone in recognising the wide ranging economic implications of climate change for Australia”, said Emma Herd, Chief Executive Officer of the Investor Group on Climate Change (IGCC).
“Australia has a carbon intensive economy which is exposed to the regulatory, physical and market risks of climate change. Investors who are managing financial risk for the long term need to be managing for climate change. Good carbon risk disclosure is the foundation of good risk management”, said Herd.
Sunday 13th December 2015
Investors welcome historic Paris Agreement
The Investor Group on Climate Change (IGCC) congratulates world leaders for concluding an ambitious new climate change agreement.
“The Paris Agreement sends a strong signal to the market that the world is now serious about addressing climate change”, said Emma Herd, Chief Executive of the Investor Group on Climate Change.
“The Paris Agreement has delivered a roadmap for ongoing, global economic transformation”.
“Around 190 countries, representing over 90% of global emissions have officially put forward climate change action plans. If successfully implemented, these national carbon commitments will drive investors to reduce their exposure to high risk, carbon intensive assets and accelerate support for low carbon, climate resilient development”, said Herd.
Read More News Posts
Carbon Market Institute 3rd Australian Emissions Reduction Summit
Dates: 3rd and 4th of May
Dates: 10th of May
IGCC, PRI & RICS Australian Launch breakfast: Sustainable Real Estate Investment
Dates: 13th of May
For more information please contact:The IGCC Secretariat
PO Box Q937
Queen Victoria Building NSW 1230
Tel: +61 2 9255 0290