- Six new members appointed to the board following elections at IIGCC’s AGM.
- 94 members have joined IIGCC in 2021, taking total membership to over 360, representing more than EUR 50 trillion in assets under management.
- October 2021 marked the 20th anniversary of IIGCC’s formation.
London: The Institutional Investors Group on Climate Change (IIGCC) is pleased to announce the appointment of six new members to its board following its 2021 Annual General Meeting (AGM). Existing board member, Jon Johnsen, CEO, PKA has also been confirmed as Vice Chair. The appointments follow another year of significant growth and progress for IIGCC, as it celebrates 20 years since its launch in October 2001. For more information on IIGCC’s history and achievements, see its latest annual report.
Bruce Duguid, Head of Stewardship, EOS at Federated Hermes, Claudia Kruse, Managing Director Global Responsible Investment & Governance, APG Asset Management, Graham Cook, Chief Investment Officer, Environment Agency Pension Fund and Kelly Christodoulou, Listed ESG & Stewardship Manager, AustralianSuper were elected to the board at the IIGCC AGM, which took place on 1 December 2021. Adam Matthews, Chief Responsible Investment Officer, Church of England Pensions Board was also re-elected.
In addition, following a board meeting on 9 December 2021, and to ensure a balanced and diverse range of skills and experience, Caroline Le Meaux, Head of ESG Research, Engagement and Voting, Amundi and Sandy Boss, Global Head of Investment Stewardship, BlackRock were also co-opted to serve on the board.
During the AGM, IIGCC’s Chair and CEO recapped key initiatives over the course of the last 12 months, as part of its mission to support investor progress towards a net zero and resilient future. Highlights included the launches of the Net Zero Asset Managers initiative, the Net Zero Investment Framework and the 2021 Global Investor Statement, as well as Climate Action 100+’s most active and successful year in Europe to date.
The Net Zero Asset Managers initiative now has more than 220 signatories representing more than half of global assets under management committed to aligning portfolios with net zero. The Net Zero Investment Framework is now used by all of the Paris Aligned Asset Owners group – asset owners who have signed the Paris Aligned Investment Initiative Net Zero Asset Owner Commitment – and 75% of signatories to the Net Zero Asset Managers initiative.
In Europe, Climate Action 100+ saw a record number of net zero commitments from 40 focus companies. The 2021 Global Investor Statement, launched along with other network partners that make up the Investor Agenda, was a joint statement to world governments signed by 700 signatories representing 52 trillion US dollars urging them to take action to tackle climate change.
Delivering a keynote address at the AGM, Rt Hon Alok Sharma, MP and COP26 President, said: “Last month in Glasgow, we secured a historic global agreement on climate action, the Glasgow Climate Pact. Thanks to this, the 1.5 degree limit lives. But its pulse is weak. And it is up to all of us to protect it and strengthen it. Delivery is key, and that relies on public and private finance working together.”
“Groups like IIGCC have helped to create momentum across private finance. And private finance must now implement ambitious net zero targets, phase out coal and mobilise more capital to developing countries. Together, let’s continue to keep 1.5 degrees alive.”
Faith Ward, Chair, IIGCC, said: “One year into my position as Chair, I am proud to have overseen such strong progress by IIGCC and its members. It has been an incredible period marked by clear successes. I look forward to 2022 being another landmark year.”
“I would like to welcome our new board members, and to thank those who are stepping down for their valuable service. The new members bring different skillsets and a diversity of perspectives that will undoubtedly prove extremely beneficial.”
“The Board and I also thank all members for their significant contributions, as well as Stephanie and the IIGCC team for their continued commitment.”
Stephanie Pfeifer, CEO, IIGCC, said: “2021 has been a remarkable year of growth for IIGCC. Not only has our team grown by more than 60%, but we have also increased our membership significantly, now representing over 360 members with more than EUR 50 trillion in assets under management.”
“2021 was a pivotal year for investor and corporate commitments to net zero. We must capitalise on this momentum and ensure that if 2021 was the year of net zero commitments, 2022 is the year of demonstrable progress and implementation. We look forward to adding to our existing activities through new and supplementary initiatives in the next year, in what remains a crucial period for tackling climate change – as ever, there is no time to lose.”
In 2022, IIGCC will continue to focus on mobilising net zero commitments from investors and companies, and working with policy makers to provide a supportive environment in which these commitments can be translated into tangible action. This includes, for example, strengthening the Net Zero Investment Framework adding components to focus on new asset classes and themes, including private equity, infrastructure, adaptation and resilience, derivatives and hedge funds; developing a revised strategy for Climate Action 100+ to take it beyond the first phase which is due to end in 2023; and continuing to hold governments to account on their commitments, particularly in the run-up to COP27, with an updated Global Investor Statement for 2022.
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