International investor groups, including the Investor Group on Climate Change (IGCC), have encouraged global governments to ensure they are planning for a sustainable recovery from the COVID-19 pandemic by factoring in climate change risk into economic recovery plans.
The global statement, which has been sent to G20 countries and New Zealand, reinforces that governments’ first priority amid the COVID-19 pandemic is to save lives and provide financial relief to support the most vulnerable.
As governments look to spark longer-term economic recovery, the investor groups warn locking in carbon-intensive economic activities will only exacerbate systemic climate risk and expose economies to escalating shocks. The groups say governments should instead look to drive efficient private capital investment, that can create fresh employment and economic growth, by prioritising net zero emissions projects in areas like infrastructure, transport, property and energy.
The global statement is signed by the heads of the founding partner organisations of The Investor Agenda, including IGCC, the Asia Investor Group on Climate Change, the Institutional Investor Group on Climate Change, Ceres, Principles for Responsible Investment, CDP and the United Nations Environment Programme Finance Initiative.