HANOI -- Singapore's sovereign wealth fund GIC has joined the Asia Investor Group on Climate Change (AIGCC) and the Climate Action 100+ initiative in a further boost to regional investor engagement on climate change, according to an announcement.
"AIGCC is proud to welcome GIC as a member and as a signatory to Climate Action 100+, and is looking forward to working with the team on its active climate risk engagement," said Rebecca Mikula-Wright, Executive Director of AIGCC and a member of the global Climate Action 100+ steering committee.
She added that Climate Action 100+ is seeing a rapid increase in investor understanding and activity on climate risks across Asia, which is translating into enhanced and deeper cooperation with companies to ensure that they prepare for the low-carbon transition. The continued growth and impact of Climate Action 100+ in Asia is a testament to this.
Meanwhile, GIC's chief investment officer for fixed income, Liew Tzu Mi, who also chairs its sustainability committee, said the sovereign wealth fund seeks to ensure that portfolio companies are aligned with the transition to a more sustainable path.
Climate Action 100+ is an investor initiative aimed at pushing the world's largest corporate greenhouse gas emitters to take action on climate change. More than 500 investors with $47 trillion in assets under management are engaging companies on improving governance, curbing emissions and strengthening climate-related financial disclosures.
AIGCC is an initiative that aims to create awareness and encourage action among Asia's asset owners and financial institutions about the risks and opportunities associated with climate change and low-carbon investing.
AIGCC has 49 members from 11 markets, representing over $11 trillion in assets under management.
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