A single and comprehensive framework

The Investor Climate Action Plans (ICAPs) Expectations Ladder and Guidance provides investors with clear expectations for issuing and implementing comprehensive climate action plans, including steps investors can take to support the goal of maintaining returns in a net-zero emissions economy by 2050 or sooner. The framework aims to help investors navigate existing expectations and initiatives on climate change. It is inclusive and unique in that it sets out expectations for investors wherever they may be on their climate journey.

The ICAPs Expectations Ladder summarizes the key climate actions investors can take right now in the four interlocking areas of the Investor Agenda: investment, corporate engagement, policy advocacy, and investor disclosure. Governance is a cross-cutting theme across all four areas.

Investors can use the ICAPs Expectations Ladder in several ways including:

  • Assessing their current approach to managing climate change risk and opportunity
  • Publishing a standalone ICAP
  • Embedding elements of the ICAPs into their climate change strategies and disclosures.
  • Communicating their current activities and future plans to stakeholders

The accompanying ICAPs Guidance enables investors to interpret the ICAPs Expectations Ladder. It helps investors self-assess where they are on the ladder to understand the specific climate actions they can take to strengthen their approach and make further progress.

Global State of Investor Climate Action

The Founding Partners of the Investor Agenda have developed a report using data from more than 220 of the world’s largest asset owners and asset managers. It found that the financial materiality of climate change is now well-understood by investors.

The Global State of Investor Climate Action report reveals that many of the investors surveyed are taking a range of actions to integrate climate risks and opportunities into investment, corporate engagement, policy advocacy, and disclosure practices. However, significant gaps remain, and regional disparities in ambition, action, and transparency risk undermining global progress on managing climate-related financial risks and opportunities.

Click here to read the full report

Translated documents

The ICAPs Expectations Ladder & Guidance documents have being translated into various languages to increase access for investors.

Please see below for the ICAPs Expectations Ladder & Guidance translations that are already available.

Please note, Guidance translations marked 2021 are previous versions of the Guidance.

Arabic 

سلمالتوقعات (Expectations Ladder) خطط عملالمستثمرين (ICAPs)

Download the 2023 Expectations Ladder PDF - Arabic

Bahasa Indonesian

Jenjang Ekspektasi – Rencana Aksi Penanganan Perubahaniklim Bagi Investor (ICAPs)

Download the 2023 Expectations Ladder PDF - Bahasa Indonesia

Français – French

Plans d’action climatique des investisseurs (Investor Climate Action Plans, ICAPs) échelle des attentes

Download the 2023 Expectations Ladder PDF - Français

Conseils pour l’utilisation de l’Echelle des Attentes

Download the 2023 Guidance PDF - Français

日本語 – Japanese

投資家気候行動計画 Investor Climate Action Plans (ICAPs) 期待達成レベル評価

Download the 2023 Expectations Ladder PDF - 日本語

한국어 – Korean

투자자 기후행동 계획 Investor Climate Action Plans (ICAPs) 기대 단계

Download the 2023 Expectations Ladder PDF - 한국어

투자자 기후행동 계획 Investor Climate Action Plans (ICAPs) 기대 단계 사용 지침 (2021)

Download the 2021 Guidance PDF - 한국어

Português – Portuguese

Guia para utilização da Escala de Expectativas

Download the 2023 Guidance PDF - Português

中文 – Simplified Chinese

投资者气候行动计划 Investor Climate Action Plans (ICAPs) 期望阶梯

Download the 2023 Expectations Ladder PDF - 中文

投资者气候行动计划 Investor Climate Action Plans (ICAPs) 期望阶梯使用指南

Download the 2023 Guidance PDF - 中文

Español – Spanish

Escalera de Expectativas

Download the 2023 Expectations Ladder PDF - Español

Guía para usar la Escalera de Expectativas

Download the 2023 Guidance PDF - Español 

ภาษาไทย – Thai

กรอบความคาดหวังแบบขันบันได

ของแผนการดำเนินการด้านสภาพภูมิอากาศสำหรับ นักลงทุน [ICAPs]

Download the 2023 Expectations Ladder PDF – ภาษาไทย

繁體中文 Traditional Chinese

投資人氣候行動計畫 [ICAPS] 期望階梯

Download the 2023 Expectations Ladder PDF - 繁體中文

​The Investor Agenda and its partners are committed to complying with all laws and regulations that apply to them, including antitrust and other regulatory laws and regulations and the restrictions on information exchange and other collaborative engagement that said laws and regulations impose. ​

The choice to adopt guidance, emerging practice tools or tactics referred to on the Investor Agenda website, or in Investor Agenda’s ICAPs Expectations Ladder and ICAPs Guidance Framework, is always at the ultimate discretion of individual investors in a manner consistent with their fiduciary duty to invest in best interest of their beneficiaries and based solely on their own decision making. ​

The aim of the ICAPs Expectations Ladder and ICAPs Guidance Framework is to provide a voluntary framework that can be used by all investors recognizing that there are differing mandates, contexts, strategies and aims together with considerations of jurisdiction, regulation and emerging practice that will determine the approach that can be taken by a particular investor. The ICAPs Expectations Ladder and ICAPs Guidance Framework are for knowledge-sharing purposes only and should not be construed as legal, tax, investment, financial, or other advice.