Private Equity Investors Join Forces on Climate Action
A group of private equity investors announced that they have joined forces to collectively act on climate change, forming the UK iCI, the first international network of Initiative Climat International (iCI).
In joining the iCI network, the investors sign on to a series of commitments, as follows:
- We recognise that climate change will have adverse effects on the global economy, which presents both risks and opportunities for investments.
- We will join forces to contribute to the objective of the Paris Agreement, to limit global warming to well-below 2 C and in pursuit of 1.5 C.
- We will actively engage with portfolio companies to reduce their greenhouse gas emissions, contributing to an overall improvement in sustainability performance.
The iCI network was originally launched as the iC20 (Initiative Climat 2020) in 2015 by a group of French private equity firms to contribute to achieving the objectives of the Paris Agreement – to limit global warming to well-below 2 degrees C, and to pursue efforts to limit the temperature increase even further to 1.5 degrees C. Members include Coller Capital, NorthEdge Capital, Permira Holdings and Amundi.
iCI is a Supporting Partner of The Investor Agenda, and is officially endorsed by the Principles for Responsible Investment, and is hosted on the PRI online Collaboration Platform. iCI is open to all private equity firms and investors to join.
Fiona Reynolds, CEO of the PRI said:
“The PRI welcomes the announcement that a group of leading private equity investors have joined the Initiative Climat International, and in doing so are stepping up to the climate challenge. We are pleased to support this initiative and encourage private equity firms to join this committed group of investors as they seek to better manage climate-related risks.”