IGCC Annual Report 2024: A Transformative Year For Investor Climate Action

The Investor Group on Climate Change (IGCC) has released its 2024 Annual Report, highlighting a year of significant climate action by investors and policy progress throughout Australia and Aotearoa New Zealand.

In 2024, IGCC’s membership expanded to 108 institutional investors, collectively managing more than $5 trillion in local assets and $40 trillion globally. These members, representing over 15 million people in Australia, reinforce IGCC as the foremost voice for institutional investors concerned about the risks and opportunities posed by climate change.

Policy and Advocacy Highlights

• The Australian government has made significant progress in tackling climate change by adopting landmark legislation that embodies years of IGCC’s policy and advocacy efforts.
• The Future Made in Australia (FMiA) policy aims to promote investment in net zero industries.
• As the leading voice for investors in Parliament, IGCC held c-suite roadshows in Canberra.
• The Climate Action Pays Off campaign, which reached over 21 million people, advocated for strong 2035 climate targets from the Federal Parliament.

Corporate Engagement Highlights

• The release of thought leadership reports includes guidance on executive remuneration, planning for a just transition, managing physical climate risks, and building resilience.
• More than 80% of members now evaluate physical climate risks in their portfolios, and 58% have put response measures in place – a twofold increase in engagement compared to previous years.
• Climate Action 100+ investor engagement saw progress in company decarbonisation targets and enhanced transparency regarding capital allocation for decarbonisation.

Investor Practice Highlights

• The Investor Practice team assisted investors in navigating tools and frameworks related to climate mitigation, as well as physical risk and resilience.
• The Climate Solutions Sub-Working Group allowed members to contribute to developing the Australian Sustainable Finance Taxonomy.
• IGCC took on the role of Chair for the Net Zero Asset Managers (NZAM) initiative in late 2024 and will contribute to shaping the Initiative’s three-year strategy.

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