News

The Investor Group on Climate Change (IGCC), representing investors of over $600bn, welcomes the recommitment of the Government to a market based mechanism to price emissions, but warns that today’s announcements will only marginally influence investment decisions until the policy framework is resolved.

“The Government is right to re‐state that a market based mechanism is the best policy framework to reduce emissions in Australia.” IGCC Chief Executive Nathan Fabian said.

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The Investor Group on Climate Change (IGCC), representing investors of over $500bn, today expressed its frustration and disappointment at the prospect of further delays to the implementation of a framework for pricing Greenhouse Gas emissions beyond 2012.

IGCC considers that the Rudd Government’s decision to delay the Carbon Pollution Reduction Scheme is at odds with the urgent need to address climate change; for a steady low-emissions economic transition in Australia; and, the call from local investors for a framework to price emissions risk into investment decisions.

Investors understand that the impasse in the Senate has delayed passage of the CPRS, but were seeking continued Government commitment to the policy, including taking it to the next election.

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London, April 21, 2010 - The latest report from the Carbon Disclosure Project (CDP) reveals a growing carbon chasm between US emissions trends and the cuts needed to reverse emissions output to meet President Obama’s target.

CDP has analysed data from its annual information collection from S&P 100 companies for the years 2007 - 2009 and found that greenhouse gas emissions will, at their current trajectory, produce a 3.66% absolute increase in emissions by 2020, relative to 2009 levels. This figure is far off the 1.05% reduction level per annum which CDP calculates is required to reach President Obama’s US 2020 target. While some sectors have reduced their emissions over the past three years, total emissions reported to CDP from S&P 100 companies increased at a rate of 0.36% and as the economy recovers, growth in absolute emissions is likely to increase further.
 
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Click here to download a copy of the report

London, United Kingdom – April 7, 2010 – With the support of many of the world’s financial institutions, CDP Water Disclosure has asked more than 300 of the largest global companies to report for the first time on water use and other water-related issues, to increase the availability of high quality business information and raise awareness of water-related risk.

CDP, an independent not-for-profit organisation, has emerged as the premier global scorekeeper on carbon emissions gathering primary corporate climate change information from thousands of businesses around the world so that it can be incorporated into business and policy decision making. With the launch of CDP Water Disclosure last November, the organisation is using the same established system in order to tackle the increasingly vital issue of water scarcity.

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18th March 2010, BOSTON/LONDON/MELBOURNE—Institutional investors released new climate disclosure guidelines for the oil and gas sector today and called on companies to strengthen their reporting on the risks and opportunities from climate change and evolving regulation.

Identifying significant future investment value at risk, the investors said that levels of transparency from oil and gas companies now needed to reflect the shift in regulation internationally because of climate change.

Over 40% of global greenhouse gas emissions can be attributed to the extraction, processing and subsequent combustion of oil and gas and the transition to a low carbon global economy will require a significant reduction in the use of these carbon-intensive fossil fuels.

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Click here to download a copy of the guidelines

Record number of investors support CDP’s 2010 request for climate change information

London, UK - 17 February 2010. The Carbon Disclosure Project (CDP) today announced its eighth annual request for information on greenhouse gas emissions and climate change strategies to over 4,500 companies globally. Companies this year will report to CDP through an upgraded system, developed with Accenture, Microsoft and SAP, that will for the first time utilise the full power of online analysis tools to drive improved carbon management.

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“Cannot Wait for a Global Treaty,” Investors Tell Congress and other Government Policymakers at United Nations Investors Climate Summit
 
NEW YORK CITY, NY — On the heels of international climate treaty talks in Copenhagen, the world’s largest investors today released a statement calling on the U.S. and other governments to move quickly to adopt strong national climate policies that will spur low-carbon investments to reduce emissions causing climate change. Private-sector investors will likely be responsible for financing more than 85 percent of the global transition to a low-carbon economy.

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Click here to download a copy of the investor statement

Key investor organisations, The Australian Council of Superannuation Investors (ACSI), and the Investor Group on Climate Change (IGCC), today said that the Copenhagen Accord has brought the prospect of substantial cuts to global emissions much closer and that Australian companies should now be preparing to significantly reduce their emissions.
 
The investor groups consider that the Copenhagen Accord sets a clear direction for emissions reductions globally, including a goal for a maximum of 2 degrees warming or 450ppm equivalent of greenhouse gases. Realisation of the Copenhagen Accord would require substantial cuts in Australian emissions by 2020.
 
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The Investor Group on Climate Change (IGCC), representing investors of over $500bn across all sectors of the Australian economy today restated its views on the importance of passage of the Carbon Pollution Reduction Scheme.

Investors need to be able to include carbon risks in their investment decisions and passage of the CPRS would allow this for the first time in Australia.

Delaying passage of the scheme yet again will hold up investment decisions and generate significant uncertainty in the business and investment sectors.

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The Investor Group on Climate Change (IGCC), representing investors of over $500bn across all sectors of the Australian economy, today released a statement of its position on areas of possible amendment to the Carbon Pollution Reduction Scheme (CPRS). The statement entitled, IGCC statement on areas of possible amendment to the CPRS accompanies this media release.

IGCC welcomes the Opposition’s contribution to resolving the CPRS, as establishment of an emissions trading framework in Australia is a critical step to enable a reduction in domestic emissions.

But IGCC warns the effectiveness of the CPRS in achieving least cost emissions reductions and equitably distributing costs through the economy are at risk under some of the proposals.

Click here to download a copy of the media release

Click here to download a copy of the IGCC statement on areas of possible amendment to the CPRS