The European Union aims to achieve an economy with net-zero greenhouse gas emissions by 2050. And as it becomes ever more prominent that reaching this target would require a tremendous collective effort, different layers of society are increasingly stepping forward to do their part.
More recently, a giant European group of global investment managers and pension funds has devised plans to cut the carbon footprint of their portfolios to net-zero, all in a bid to help tackle climate change and inspire other investors to do the same.
Called the Institutional Investors Group on Climate Change (IIGCC), the group totals more than 1,200 members in 16 countries, who control over $40 trillion in assets. Their mission is to help accelerate a transition towards a low-carbon global economy and ensure resilience in the face of climate change.
IIGCC’s latest plan includes distributing its recommended measures to asset managers to help them reach the European Union’s goal to become climate-neutral by 2050. These recommendations have been developed with more than 70 funds worldwide.
“Countries, cities, and companies around the globe are committing to achieve the goal of net-zero emissions and investors need to show similar leadership,” says Stephanie Pfeifer, IIGCC’s chief executive officer.
The group’s lengthy agenda includes providing intelligence and analyzing the latest policy development for members, developing policy positions, collaborating with like-minded groups, and facilitating workshops, roundtables, and guidance documents.
