IA Comment: Intergovernmental Panel on Climate Change (IPCC) Report
Commenting on the Intergovernmental Panel on Climate Change (IPCC) Report, Chris Cummings, Chief Executive of the Investment Association, said:
“This report is a stark reminder of the urgency for our, and all industries, to reduce emissions and protect against the impacts of climate change. Earlier this year the IA became the first supporting partner organisation of the Net Zero Asset Managers initiative, allowing us to play our role in galvanising the asset management industry to commit to the goal of net zero emissions by 2050. IA members with assets under management of more than £5.6trn have now made a net zero commitment. Investment managers play a crucial role as stewards, pushing companies to manage the risks from climate change. We have set out a clear expectation that UK listed companies should outline their approach to Paris alignment and how they intend to transition their business model to respond to the impact of climate change. We will continue to work with the Government and our members to ensure that the investment industry is playing its part in this crucial global effort."
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About the Investment Association (IA):
- The IA champions UK investment management, supporting British savers, investors and businesses. Our 250 members manage £8.5 trillion of assets and the investment management industry supports 113,000 jobs across the UK.
- Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.
- Our purpose is to ensure investment managers are in the best possible position to:
- Build people’s resilience to financial adversity
- Help people achieve their financial aspirations
- Enable people to maintain a decent standard of living as they grow older
- Contribute to economic growth through the efficient allocation of capital.
- The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.
- The UK is the second largest investment management centre in the world, after the US and manages over a third (37%) of all assets managed in Europe.