New Global Investor Statement launches with the backing of hundreds of investors urging a whole-of-government approach to addressing the climate crisis
- The 2024 Global Investor Statement to Governments on the Climate Crisis is the most comprehensive investor call for climate action, demanding a whole-of-government approach with policy implementation at all levels of government.
- 534 institutional investors and their representatives managing more than USD $29 trillion in assets have already signed on, urging enactment of policies that will unlock the private capital flows needed for a just transition to a climate-resilient, nature-positive, net-zero economy.
17 September 2024: In the most comprehensive statement to date, investors and financial institutions are urging governments worldwide to enact the critical policies needed to free up private financial flows for the just transition to a climate-resilient, nature-positive, net-zero economy.
The 2024 Global Investor Statement to Governments on the Climate Crisis, publicly launched today, comes one week ahead of Climate Week NYC where investors will encourage their peers worldwide to support the global call for government action. It has already been signed by 534 financial institutions and their representatives, with more than USD$29 trillion in assets under management. The statement will remain open until 1st November, ahead of the UN Climate Conference (COP29) in Baku, Azerbaijan, where it will be presented to governments with the final list of signatures.
Statement signatories are encouraging a whole-of-government approach to achieve a climate-resilient, net zero emissions economy by 2050 or sooner. To reach this goal, the statement calls for governments to enact policies across five critical policy groupings:
- enacting economy-wide public policies;
- implementing sectoral strategies, especially in high-emitting sectors;
- addressing nature, water and biodiversity-related challenges contributing to and stemming from the climate crisis;
- mandating climate-related disclosures across the financial system; and
- facilitating further private investment into climate mitigation, resilience and adaptation activities in emerging markets and developing economies.
“Investors recognize that policy mechanisms are essential to achieve a climate-resilient, net zero emissions economy by 2050 or sooner, with interim targets in line with credible 1.5°C pathways. Nonpolicy mechanisms, including public-private partnerships, sectoral strategies, and other collaborative efforts, should also play an important role in decarbonizing value chains and building out resilient electricity infrastructure,” the statement reads.
“Renewed focus is needed to address rising energy demand from end-use sectors such as transportation, industry and buildings, including through energy efficiency. We encourage governments to consider other fiscal, financial and regulatory innovations that could reduce the cost of capital and facilitate a just and equitable net zero transition.”
Coordinated by the Founding Partners of the Investor Agenda – Asia Investor Group on Climate Change, CDP, Ceres, Investor Group on Climate Change, Institutional Investors Group on Climate Change, Principles for Responsible Investment, and UNEP Finance Initiative – the global investor statement calls on governments to increase the ambition of their updated Nationally Determined Contributions (NDCs) due to be submitted next year. The Founding Partners have coordinated global investor calls to action urging governments to step up climate policy action since 2009.
Supporting quotes from the Founding Partners of The Investor Agenda:
Asia Investor Group on Climate Change (AIGCC) and Investor Group on Climate Change (IGCC) CEO and Investor Agenda Steering Committee member, Rebecca Mikula-Wright, said:
“With just five years to go before the critical 2030 milestone, this group of leading investors is making it clear to governments that the right set of strong policies will unleash a wave of capital to fund the climate solutions that the global economy desperately needs.
At COP29 policymakers will be deciding whether to accelerate the global shift to a climate resilient net zero economy or stay on the current trajectory of high-costs and lower economic growth. They pay attention to capital markets so now is the time for investors to join this call for the policies that will protect their economies.”
CDP Head of Capital Markets, North America and Investor Agenda Steering Committee member, Pratima Divgi, said:
“We are fast approaching critical milestones on the journey to a net-zero, nature positive economy by 2050. The 2024 Global Investor Statement unites hundreds of investors on the essential policies needed to mobilize capital towards a climate positive future. It is invigorating to see this regionally diverse community of investors and financial institutions come together to urge action and we hope that governments around the world hear these voices.”
Ceres CEO and President and Investor Agenda Steering Committee member, Mindy Lubber, said:
“The 2024 Global Investor Statement underscores the urgent need for increased ambition to enact a whole-of-government approach to the climate crisis. These critical policies to tackle climate change and nature loss will unlock the private capital needed to accelerate the just transition to a resilient, low-carbon, nature-positive economy. With this powerful statement, investors and other financial institutions are united in making their voices heard and demanding action now from their government leaders.”
Institutional Investors Group on Climate Change (IIGCC) CEO and Investor Agenda Steering Committee member, Stephanie Pfeifer, said:
“This year’s Global Investor Statement – the most ambitious yet – sends a clear message from hundreds of investors to governments around the world for greater policy action to help unlock private capital to support the decarbonisation of the global economy. While there are notable examples of supportive policies underpinning government climate commitments, the new Global Investor Statement highlights the need for more comprehensive policies by calling for enhanced action on nature and emerging markets finance. COP16 and COP29 provide the ideal settings for governments to respond to investors’ asks.”
Principles for Responsible Investment (PRI) Director of Sustainability Initiatives and Investor Agenda Steering Committee member, Bettina Reinboth, said:
“PRI warmly welcomes the support from across the industry for the 2024 Global Investor Statement. We’ve heard clearly and consistently from our signatories around the world that, in order for them to accelerate their commitments on climate action, the sector needs to see the rapid evolution of an enabling policy environment. The policy measures called for in the Global Investor Statement are directly additive to this outcome, which stand to benefit not only investors and their ability to deliver returns on behalf of their beneficiaries, but also economies and societies the world over.”
United Nations Environment Programme Finance Initiative (UNEP FI) Climate Lead and Investor Agenda Steering Committee member, Remco Fischer, said:
“We call on governments to submit more ambitious NDCs ahead of COP30 in Brazil while enabling a whole-of-government policy approach and industrial strategy to drive the low-carbon transition. Particularly important is the consideration of both climate and nature in the finance sector’s response to the global environmental crisis. Both contribute to key goals at COP29 this December, to scale climate finance and at COP16 Convention on Biological Diversity (CBD) in November, to ensure climate and nature goals are ambitious and aligned.”
Investors have until 1 November 2024 to sign on to the statement. Investors should contact one of the Founding Partners (AIGCC, CDP, Ceres, IGCC, IIGCC, PRI, UNEP FI) or The Investor Agenda Policy Manager Paul Smith at paul.smith@un.org if they have any questions about the statement.
Editor’s Note:
Climate Week NYC: On 25th September, The Investor Agenda Founding Partner Ceres will host a mainstage session at the Nest Climate Campus on Wednesday, Sept. 25. It will showcase an investor that has signed on to the 2024 Global Investor Statement and will encourage other investors to do so before the statement closes. The event is open to journalists. Journalists can register here.
Webinar: On October 1st 2024, The Founding Partners of The Investor Agenda are hosting a webinar on the 2024 Global Investor Statement asks and impacts. Follow @InvestorAgenda on X for the latest updates and registration.
For global media inquiries, please contact news@theinvestoragenda.org. The complete text of the 2024 Global Investor Statement to Governments on the Climate Crisis, including the names of the investor signatories, is available on the Investor Agenda website here.
About The Investor Agenda
The Investor Agenda is a common leadership agenda on the climate crisis that is unifying, comprehensive, and focused on accelerating investor action for a net-zero emissions economy. The founding partners of The Investor Agenda are seven major groups working with investors: Asia Investor Group on Climate Change, CDP, Ceres, Investor Group on Climate Change, Institutional Investors Group on Climate Change, Principles for Responsible Investment and UNEP Finance Initiative. For more information, visit theinvestoragenda.org and follow @InvestorAgenda on X.
Notes to Investors
Investors still have until 1 November 2024 to support this growing call for increased government ambition and action on the climate crisis. They can go the Investor Agenda website and sign on to the 2024 Global Investor Statement to Governments on the Climate Crisis here.
Investors are also encouraged to develop and implement comprehensive Investor Climate Action Plans (ICAPs) and align their investments with the goal of net-zero emissions by 2050 or sooner, with credible interim targets, among other actions.