Almost half of major investors in Australia and New Zealand have now committed to reducing emissions to net zero in their portfolios by 2050, new research has shown.
The Investor Group on Climate Change’s annual investor research surveyed around 50 institutional investors in both countries with combined assets under management of more than $3 trillion, and found that 40 per cent had made portfolio-wide commitments towards the net zero in 2050 goal.
This was a dramatic increase compared to the 27 per cent of investors that had made that commitment last year.
The survey also found that more than half of institutional investors – 55 per cent – were reporting against the Task Force on Climate-Related Financial Disclosures recommendations, although according to the IGCC this level was still too low.
“Overall, climate reporting and disclosure continues to lag expectations, which highlights the need for mandatory reporting,” the group said.
There was also a significant increase in the number of investors that reported climate policy uncertainty as a key barrier to deploying capital to clean energy investments, with 70 per cent flagging this as an issue, up from 30 per cent in last year’s survey.
In addition, a majority of investors – 75 per cent – said they were focused on the social elements of climate change, up 25 per cent from last year.
“As the implications of decarbonising the economy become clearer, investors are more aware of the impact communities face with the need to transition, as well as the opportunities this creates,” the IGCC said.
Canada’s derivatives exchange, the Montréal Exchange (MX), on Monday extended its opening times as part of the next phase of its trading ...
Judo Bank has been awarded an investment-grade credit rating. ...