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GIC joins investor group on climate change
Singaporean sovereign wealth fund wants to ensure portfolio companies are aligned with low carbon transition
30 Nov 2020 | The Asset

Singaporean sovereign wealth fund GIC has joined the Asia Investor Group on Climate Change (AIGCC) and the Climate Action 100+ initiative, in a further boost to regional investor engagement on climate change.

The AIGCC aims to create awareness and encourage action among Asia’s asset owners and financial institutions about the risks and opportunities associated with climate change and low carbon investing. The group has 49 members from 11 markets representing over US$11 trillion in assets under management.

Climate Action 100+, launched in December 2017, is an investor initiative to ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change. More than 500 investors with US$47 trillion in assets under management are engaging companies on improving governance, curbing emissions and strengthening climate-related financial disclosures.

Rebecca Mikula-Wright, executive director of AIGCC and member of the global Climate Action 100+ steering committee, notes: “We are witnessing a rapid increase in investor understanding and activity on climate risk across Asia, which is translating into enhanced and deeper cooperative engagement with companies to ensure they are preparing for the low carbon transition. The continued growth and impact of Climate Action 100+ in Asia is testament to this.”

Liew Tzu Mi, chief investment officer for fixed income at GIC and chair of its sustainability committee, adds: “Climate change is one of the defining issues of our era. As a long-term investor, we seek to ensure our portfolio companies are aligned with the transition to a more sustainable path.

“Where we identify companies exposed to greater physical or transition risks arising from climate change, we aim to engage with those companies to discuss, and offer support for, their plans to mitigate or transition from those risks.”