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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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.
Friday 4th December 2015
Investors welcome carbon risk financial disclosure task force
The Investor Group on Climate Change (IGCC) welcomes today’s announcement on the establishment of The Task Force on Climate-related Financial Disclosures (TCFD) by the Financial Stability Board (FSB).
“This is an important milestone is recognising the wide ranging financial implications of climate change for all economies”, 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. Regulators need to have good visibility of the system-wide implications”, said Herd.
Thursday 3rd December 2015
Investors take an active role in Paris
Australian and New Zealand investors are playing an active role in Paris, joining international investor groups in calling for a strong and effective global climate change agreement and demonstrating investor actions to support the low carbon transition.
Institutional investors who are part of the investor networks that make up the Global Investor Coalition on Climate Change are among the largest in the world in terms of assets under management, and have been vocal in calling for meaningful carbon pricing and an ambitious climate agreement in Paris.
Wednesday 18th November 2015
Global investors launch guide to drive engagement on climate risk with the mining sector
A fortnight before the UN Climate Summit in Paris, and as the OECD announces a deal to restrict subsidies to the coal sector, a global network of more than 270 institutional investors (representing assets worth over €20 trillion) has published a guide to drive closer engagement with mining companies around the world on their management of climate risk.
Investor Expectations of Mining Companies – Drilling Deeper into Carbon Asset Risk sets out investor expectations on the approach taken by the Boards of diversified mining companies when responding to tightening carbon constraints.Click here to download a copy of the media release
Click here to download a copy of the report
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For more information please contact:The IGCC Secretariat
PO Box Q937
Queen Victoria Building NSW 1230
Tel: +61 2 9255 0290