The Investor Group on Climate Change (IGCC) has launched its ‘Road to Resilience’ strategy, targeting investments in climate resilience across Australia and New Zealand.
This plan will guide IGCC’s activities from September 2023 to December 2025, assisting investors, policymakers, and businesses in fostering climate-centric adaptation initiatives.
The strategy’s primary aims involve integrating physical climate risk insights into climate-related actions, building a mutual comprehension of climate hazards, championing investment-friendly, adaptation-centred policies, and channeling private funds into resilience and adaptation projects.
Clear benchmarks for achieving these objectives have been set by the IGCC. For instance, it’s essential for investors to actively support policies that strengthen the climate resilience of vulnerable regions and promote investment in adaptation measures.
IGCC has urged its members to take charge of this strategy, refine it and find tangible methods for its application within their respective entities.
The countries of Australia and New Zealand previously pledged their commitment in June to address climate change in unison with other Pacific nations to ensure regional resilience. The finance ministers of these nations have resolved to meet annually to further this climate-focused cause.
Ethical Partners Funds Management’s head of sustainability Robyn Parkin said, “Physical risk represents an increasingly severe risk for investors, with the escalating climate and natural capital crisis leading to elevated risks… It is clear investors and financial markets are not yet fully understanding or pricing in physical risk into valuations or portfolio construction.”
“Investors, however, have a pivotal role to play, and a key responsibility to ensure that we better integrate physical risk into our analysis, policy advocacy, capital allocation, and engagements with companies.”
The IGCC strategy voiced, “This is the start of an ongoing conversation… It underpins a programme of work that IGCC will deliver in its role of connecting, collaborating, and advocating on behalf of investors.”
IGCC CEO Rebecca Mikula-Wright commented, “This action plan that we’re launching today will be an accelerant… This strategy is designed for the real, system-wide adjustments that will make sure we’re not divesting, we’re investing in a climate resilient economy.”
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