$14 trillion investor coalitions join for major survey on institutional response to climate change

IIGCC, INCR and IGCC to quiz 250+ asset owners and managers on climate response.

Three of the world’s largest investor coalitions focused on climate risks and representing US$14 trillion in assets have come together to carry out a major survey of what international institutional investors are doing to combat climate change concerns.
The European Institutional Investors Group on Climate Change (IIGCC), the North American Investor Network on Climate Risk (INCR) and the Australia/New Zealand Investor Group on Climate Change (IGCC) will send their survey this month to more than 250 asset owners and asset managers. The size and influence of the investor groups involved suggest that a final report on responses to be released in the spring could be one of the biggest references on what investors are doing to take account of climate risks and opportunities. The groups said the final report would include an assessment of respondent practices as well as detailed best practice examples. Investors, they said, would be able to benchmark their performance on managing climate risk and opportunity and learn from the experiences of regional and international peers.The initiative comes shortly after the launch of a similar project in October last year in London: the Asset Owners Disclosure Project (AODP), which has been running for Australian superannuation pension funds for a number of years. The AODP aims to give funds their own global and national benchmark ranking amongst their peers about the carbon impact of their shareholdings.
The investor coalitions said the latest survey would run on the same lines as an existing European survey carried out for the IIGCC by Mercer since 2007. Ole Beier Sørensen, IIGCC chairman, said: “Delivering on climate mitigation and adaptation requires an international effort and investors have a key role to play. However, there is a clear lack of understanding about investor activity and practices in this field. By providing a truly global investor survey of investor practices on climate change, our knowledge of the drivers of and barriers to investor action on climate change will be greatly strengthened. It is only natural that such an initiative should be launched as joint effort by the three investor networks on climate change.”