Twenty institutional investors from 11 countries convened by the UN Environment Finance Initiative (UNEP FI) today launched comprehensive investor guidance to help assess how climate change and climate action could impact investor portfolios around the world. These assessments enable investors to be more transparent about their climate-related risks and opportunities in line with the recommendations from the Financial Stability Board’s Task Force on Climate-related Financial Disclosures. They will also help investors contribute to and benefit from the transition to low-carbon and climate-resilient economies.
The investors that led this work are Addenda Capital, Aviva, Bentall Kennedy, Caisse de Dépôt et Placement du Québec, Citibanamex, City Developments Limited, Desjardins Group, DNB, Investa, KLP, La Francaise Group, LaSalle Investment Management, Link REIT, Manulife Asset Management, M&G, Nordea Investment Management, Norges Bank Investment Management, Rockefeller Asset Management, Storebrand Asset Management, and TD Asset Management.
They were guided in this work by advisory and modelling firms Carbon Delta and Vivid Economics.
“The planet does not have time for excuses,” said Maurice Tulloch, CEO, Aviva plc. “Investors have a central role to play in moving the world to a low-carbon future. This collaboration shows how we can all take better decisions, for our customers and for the environment. Aviva will keep calling for proper disclosure from the companies we invest in, while working with regulators and policymakers to make sure capital markets properly take account of these risks. The cost of doing nothing is far greater than any costs incurred by taking action.”