AIGCC CEO/CIO Asset owner Roundtable

AIGCC held the inaugural CEO/CIO Asset owner Roundtable in September 2017. This forum is the flagship event for AIGCC, bringing asset owners from Asia and internationally together in a forum of peer to peer sharing of knowledge and information. This assists in providing guidance and information developed by global investor peers on the benefits of integrating climate change risks and opportunities into their investment policies and processes.

Following on from the inaugural event, the 2018 Roundtable will once again be held in Singapore on September 12th 2018 as a side event of the Milken Institute Asia Summit. This event is a private, invitation-only event for around 20 CEO and CIO representatives from Asian institutional investors and international guests, conducted under Chatham House rules.

The aim of the event is to build on the knowledge developed in the 2017 Roundtable where the impact of climate risk for investors in Asia was discussed. It also aims to develop a deeper understanding of where climate implications can fit within ESG policy and management frameworks and how they could be applied for investors in the region.

The roundtable format discussed the latest issues of relevance to investors in the region and assist in developing resources to be made available to all investors. The report: Incorporating Climate Change into Investment Strategy, A Guide for Investors, was discussed and incorporated feedback from the 2017 event to allow investors to contribute meaningfully to the development of the guide. The guide was then translated into Chinese and Japanese and are now also available on the website.

The Asia Investor Group organises similar capacity building workshops and events in Asia for all investors including investment managers and service providers in the region that cover topics such as investor and corporate disclosure against the Taskforce on Climate Related Financial Disclosures (TCFD), engagement and more.
Please get in touch if you are interested in being involved in one of our workshops or events.

AIGCC is hiring! Manager, Climate Action 100+

AIGCC is looking for a full-time Manager to assist with the implementation of this significant and new initiative in the region. This role will be responsible for coordinating investor engagement with Asian companies in alignment with the goals of the Climate Action 100+ initiative. The Manager, Climate Action 100+ will co-lead the Asia Engagement Working Group. This is a full-time contract position for 12 months, based in Asia (location dependant on candidate’s home city).

Download full job description: Manager, Climate Action 100+.

Send expression of interest and resume to info@aigcc.net by Friday 17 the August 2018.

Climate Action 100+ investors scale up engagement with greenhouse gas emitters, add more focus companies to drive clean energy transition

More influential investors including AllianceBernstein, Mitsubishi UFJ Trust and Banking Corporation, USD $43 billion UK pension pool Boarders to Coast Pension Partnership, and USD $64 billion Australian pension fund UniSuper sign on to initiative.

3 July 2018: Investor signatories to Climate Action 100+ have scaled up engagement with systematically important greenhouse gas emitters, while expanding their focus list of companies, adding 61 companies (Known as the + list) that have significant opportunities to drive the clean energy transition and help achieve the goals of the Paris Agreement.

Launched in December 2017 at the One Planet Summit, with 225 investors with $26 trillion in assets under management, Climate Action 100+ is now backed by 289 investors with nearly $30 trillion in assets under management, mobilising across 29 countries. The full list of investor signatories can be found here.

Read the Progress Update.
Read the full Media Release.

Japanese financial institution restricts finance to coal power

May 9, 2018 Tokyo, Japan — In response to the Dai-ichi Life Insurance Company’s announcement on coal power plant finance restriction, a group of Environmental NGOs, Japan Center for a Sustainable Environment and Society (JACSES), Friends of the Earth Japan (FoE Japan), Kiko Network,350.org Japan, Greenpeace Japan and Rainforest Action Network, issued the following statement:

“We welcome the news of the Dai-ichi Life Insurance Company adopting a policy to end new project financing for overseas coal power plants (1). As far as we know this is the first time that a Japanese financial institution has announced such a policy indicating the first step towards divestment from coal development. We commend this forward-thinking action taken by the Dai-ichi Life Insurance Company.

However, science indicates that we cannot allow any new coal plants to be built if want to keep global warming well below 2 degrees Celsius as set out in the Paris Agreement and prevent catastrophic climate change. So we compel the Dai-ichi Life Insurance Company to take a step further by also restricting project finance for domestic coal power plants projects as well.

Major European insurance firms such as AXA and Allianz are leading the way by divesting from businesses that are involved in large-scale coal-fired power plant expansion projects. We foresee that this trend will expand throughout the financial sector.

It has been reported by the Nikkei Newspaper that Nippon Life Insurance Company is also considering putting in place similar restrictions around lending to new coal fired power plants.

Japanese financial institutions, starting with — Mitsubishi UFJ Financial Group, Mizuho Financial Group, and Sumitomo Mitsui Financial Group — should take heed of actions taken by the Dai-ichi Life Insurance Company and act accordingly by adopting policies that will restrict new lending and investment into both international and domestic coal-fired power plant projects and companies involved in coal development and move toward divestment from the coal sector.”

Sourced from: Japan Center for a Sustainable Environment and Society (JACSES) and 350.org

Launch of Japanese translation “Integrating Climate Change into Investment Strategy: A Guide for Investors” 気候変動を 投資戦略に組み入れる: 投資家向けガイド

April 11, 2018.

AIGCC is launching the Japanese translation of the “Integrating Climate Change into Investment Strategy: A Guide for Investors” at RI Asia in Tokyo today.

Asian investors can protect long-term returns by taking greater measures to manage climate risk. This is one of the key messages in a comprehensive climate change investor guide that is being launched in a Japanese translated version today at the RI Asia event in Tokyo by the Asia Investor Group on Climate Change (AIGCC).

‘SumiTrust has been integrating climate change for many years and continues to be actively involved in local and international climate focused initiatives’, said Seiji Kawazoe, Associate General Manager at Sumitomo Mitsui Trust Bank, Ltd and AIGCC member. ‘We are proud to be involved in this guide and look forward to discussing it with our peers in Japan.’

“There is no one-size-fits-all approach to addressing climate change, which the investor guide clearly highlights,” said Arisa Kishigami, Head of ESG, Asia Pacific, FTSE Russell. “As a welcoming additional tool, the report balances common frameworks with a diverse range of specific case studies which investors can learn from and adapt to their individual needs. Arisa is also a working Group member of AIGCC and Management committee member of Japan Sustainable Investment Forum (JSIF).

This guide is now available in on the AIGCC website in Japanese, Chinese and English.

See full media release.

Global Investors Launch New Initiative to Engage Largest Corporate Greenhouse Gas Emitters at One Planet Summit

100 investors with more than USD $15 trillion in assets under management have committed to addressing climate change with the companies they invest in

PARIS 12 December 2017 – A new global initiative to harness the power of the world’s most influential institutional investors committed to in-depth engagement with the world’s largest corporate greenhouse gas emitters — Climate Action 100+ — is launched today at the One Planet Summit, hosted by the French Government exactly on the second anniversary of the Paris Agreement.

AIGCC Climate Action 100+ Press release

New climate change integration guide for investors launched at ChinaSIF, Beijing

Launch of new Asia climate change investor guide

Asian investors must face up to major climate risks

Asian investors can protect long-term returns by taking greater measures to manage climate risk.

This is one of the key messages in a comprehensive new climate change investor guide launched today at the China SIF summit in Beijing by the Asia Investor Group on Climate Change (AIGCC).

See here for full Media Release in English

Download the Report

Executive Summary (English)

整合气候变化:投资人指南执行摘要 (Executive Summary – Chinese) 

整合气候变化:投资人指南执行摘要 (Chinese Media Release)

亚洲投资人团体气候变化委员会整合气候变化指南 – 投资人举例 (Investor Examples – Chinese)

 

Investors rally to turn COP23 talk into action

Bonn, November 13, 2017.  The US government may have announced plans to pull out of the Paris Agreement but this has not derailed climate progress around the globe as investors, governments and other stakeholders look to ramp up their climate commitments at COP23.

According to a new survey published in September by financial market researchers East & Partners on behalf of HSBC, institutional investors are gearing up to plough increasing amounts of cash into the low carbon transition, with two-thirds saying they plan to increase their level of investment in climate mitigation efforts.

“We are seeing remarkable progress and resolve around the globe by investors and companies on tackling climate change,” said Mindy Lubber, CEO and president of the sustainability non-profit organization Ceres. “Climate risk is a defining corporate challenge of the 21st century. Those that fail to take action will be putting their future at increased risk of failure and those that act will reap the rewards.”

Disclosure on how companies plan to transition their businesses to a low carbon environment is seen as key for investors to better plan their investment strategies.  It has also been a fundamental part of the Financial Stability Board (FSB) Task Force on Climate-related Financial Disclosures (TCFD) recommendations, announced in June 2017, which are focused on improving clarity and comparability of climate disclosures, across four corporate areas: Governance, Strategy, Risk Management; and; Metrics and Targets.

“We believe the TCFD’s robust framework provides an essential foundation for investors and others to better assess and effectively price climate-related risks and opportunities, so disclosure of this kind must become a routine part of annual corporate reporting practice,” said Stephanie Pfeifer, chief executive of the IIGCC.

“The recommendations make a great leap forward in standardizing climate-related financial disclosure and enabling investors to compare impacts across companies and sectors,” added Mark Campanale, founder and executive director of Carbon Tracker.

To showcase how investors, the finance sector and companies are working with each other and governments to ensure greater disclosure of climate-related financial information, a side event: Actions on Disclosure of Climate Risks and Opportunities, will be held on at COP23 on 15 November. The event will include two panel discussions with experts from the finance and business sectors.  The event is being organised by AIGCC, Carbon Tracker, CDP, Ceres, IGCC, IIGCC, PRI, and UNEP FI.

“The TCFD recommendations represent an important milestone in the recognition of climate change—which our signatories have identified as their biggest concern—as a systemic financial risk. This is why, beginning in 2018, the PRI will start to align its reporting framework to the recommendations,” said managing director, Fiona Reynolds.

 

“The TCFD recommendations are already helping Australasian investors understand how the effects of climate change and the market response will impact portfolios and to identify investment solutions to build resilience and generate low carbon returns”, said Emma Herd, Chief Executive Officer of the Investor Group on Climate Change.

A hallmark of the TCFD’s disclosure framework is the recommendation that organisations provide climate-related financial disclosures in their main annual financial filings, and that companies determine materiality for climate-related issues consistent with how they determine the materiality of other information included in their filings.

“As a result of increasing levels of investor support for climate disclosure more than 6,200 companies have disclosed their climate performance through CDP this year. The TCFD recommendations will help further strengthen and scale disclosure and ensure we close the loop on climate risk in capital markets.” noted Paul Simpson, CEO of CDP.

“Investors in Asia are beginning to realise the material risks of ESG issues, particularly climate change, to their portfolios, so the recommendations provide essential guidance on what they should be asking from the companies in which they invest,” said Rebecca Mikula-Wright, Director of the AIGCC.

“The TCFD framework – through its emphasis on forward-looking assessments and scenario analysis – has the potential to get corporate and financial organisations to more fully understand – and disclose – the climate-related risks and opportunities they face. At UNEP FI, we will support our members in adopting the recommendations and help accelerate TCFD disclosure practice in the financial industry.” explained Eric Usher, Head UNEP FI.

See the full media release
The event will be live webcast (and available for later viewing) here: Live webcast: https://www.youtube.com/watch?v=kcYyZylAZg0

Contact Details:  info@aigcc.net