IIGCC comment on the announcement of UK securing COP26 presidency with Italy
London: It was confirmed today that the UK has been successful in its bid for COP26 presidency in partnership with Italy (see here). This has been welcomed by the Institutional Investors Group on Climate Change.
Stephanie Pfeifer, CEO, Institutional Investors Group on Climate Change (IIGCC), explains: “Confirmation that the UK and Italy will jointly share Presidency of COP26 is very positive and welcome. With the summit in Glasgow next year, it provides a key opportunity to showcase the UK’s commitment to clean growth and its significant climate finance offer to the rest of the world. Both the UK and Italy are well placed to work with global leaders in securing the necessary commitments to put the world on track to limit temperature rises to 1.5 degrees Celsius. IIGCC strongly welcomes this news as a clear opportunity to build on European leadership on climate change and offers the full weight of its assistance in making COP26 a success.”
COP26 is due to take place at the end of 2020. In the meantime, investors are focused on supporting low-carbon investment and ambitious climate policy, including at the UN Secretary General Summit taking place in New York at the end of this month and at COP25 taking place in Chile in December.
The Institutional Investors Group on Climate Change (IIGCC) is the European forum for investor collaboration on climate change and the voice of investors taking action for a prosperous, low-carbon future. IIGCC has 187 members, mainly pension funds and asset managers, across 11 countries, with over €27 trillion assets under management. IIGCC’s mission is to mobilise capital for the low-carbon transition by collaborating with business, policymakers and fellow investors.
IIGCC works to support and help define the public policies, investment practices and corporate behaviours that address the long-term risks and opportunities associated with climate change. Members consider it a fiduciary duty to ensure stranded asset risk or other losses from climate change are minimised and that opportunities presented by the transition to a low carbon economy – such as renewable energy, new technologies and energy efficiency – are maximised.