Topic: Investor Group on Climate Change
17 November 2022
Survey covers NZ$331b in AUM, estimated at 73% of total New Zealand AUM
Key findings include:
- Most New Zealand wealth managers have yet to meaningfully engage on climate issues
- Most asset owners are not proactively setting mandates for fund managers to incorporate climate risk and opportunities
- Top-down climate governance from investors is lacking
- Investment in climate solutions (and associated targets) is low
The survey also highlights positive developments that provide a platform for further action:
- Investors of all sizes are progressing with annual climate reporting, even those not covered by the upcoming climate-reporting regulation
- Over half (58%) of investors now have a climate policy in place – ideally this will continue to rise to 100% over the next 12 months.
16 November 2022
The IGCC has an opportunity and responsibility to influence the policies that will unlock the billions of dollars in private investment capital that are needed to finance Australia’s transition to a resilient, net zero economy.
IGCC is seeking a candidate who is motivated to join a team contributing to positive climate impact at a systemic level.
10 November 2022
Also releases initial target disclosures for a further 13 signatories
- This inaugural Progress Report showcases innovation and best practice amongst asset owners for turning net zero commitments into action.
- New targets mean 40 asset owners have disclosed initial targets since March 2021.
- The global Paris Aligned Asset Owners initiative has attracted 57 signatories representing over $3.3 trillion AUM.
10 November 2022
86 New Investors Announce Initial Targets
- Less than two years since the initiative launched, the latest 86 disclosures take the total number of asset managers that have set initial targets to 169.
- The initiative continues to grow, with 21 managers joining the initiative since May 2022, bringing the total to 291, representing more than A$101 trillion (US$66T) in global AUM.
7 November 2022
An coalition representing investors with $100 trillion under management has urged the Australian Government to join global efforts to require internationally consistent mandatory TCFD-aligned disclosures adopting the standards issued by the International Sustainability Standards Board.
The recent Australian Federal budget allocated $6.2m for Treasury and the Australian Accounting Standards Board to “develop and introduce climate reporting standards for large businesses and financial institutions”.
2 November 2022
The 2022 Global Investor Statement to Governments on the Climate Crisis has been submitted to governments before COP27 with 602 investor signatures representing US$42 trillion (AU$65 trillion) in assets under management.
The statement represents a unified investor call on governments to implement the policy actions needed to address the climate crisis and accelerate the transition to a net zero emissions economy.
26 October 2022
The Investor Group on Climate Change welcomes funding in last night’s federal budget towards tools and standards that we expect to be important for the efficient allocation of capital in the transition to net zero.
The budget allocated; “
$29.8 million over 4 years from 2022–23 (and $6.9 million per year ongoing) for the Treasury to restore capability to model climate risks and opportunities.
13 October 2022
Climate Action 100+ Net Zero Company Benchmark shows continued progress on net zero commitments is not matched by development and implementation of credible decarbonisation strategies
Download this media release as a pdf
Download a Summary Pack
- This interim cycle of global Benchmark assessments provides investors with timely data to inform engagement strategies ahead of upcoming proxy seasons.
4 October 2022
IGCC is seeking a dedicated director, responsible for overseeing and coordinating IGCC’s corporate engagement program.
Our current director of Corporate Engagement, Laura Hillis, is leaving to take up another role, the details of which have not yet been made public. Laura has had exceptional impact during her time at IGCC and although we wish her very well for her next job, she’ll be sorely missed here.
23 September 2022
Download the Full Submission to The Initial Consultation on Safeguards Mechanism Reform
Executive Summary Of The Submission
Relevance for Institutional Investors
IGCC represents investors with total funds under management of more than $3 trillion in Australia and New Zealand and $30 trillion around the world.
Safeguard changes are relevant to investors because:
- Institutional investors have the capital to finance a clean energy economy.