Investor organisations: the originals and the newcomers

PRI

What? World’s best-known responsible investment organisation, promotes implementation of six UN-backed Principles for Responsible Investment

When? Launched in April 2006 with 20 founding signatories. Now counts more than 1,100 publicly reporting signatories with $71trn (€62trn) in assets under management (AUM). Partnered with UNEP Finance Initiative and UN Global Compact

Who? Chair: Martin Skancke. Six asset owner-elected directors, three non-asset owner-elected directors plus two permanent UN advisers. CEO: Fiona Reynolds

Institutional Investors Group on Climate Change (IIGCC)

What? European forum for investor collaboration on climate action and “the voice of investors” taking action for a low-carbon future 

When? Formed in 2011. Now has more than 160 members across 11 countries with over €21trn in assets under management 

Who? Chair: Peter Damgaard Jensen, CEO of PKA; Vice Chair: Philippe Desfossés, CEO of ERAFP; CEO: Stephanie Pfeifer

Shareholders for Change (SfC)

What? Network for shareholder engagement formed mainly by southern European institutional investors. Aims to give a voice to smaller investors and address less publicised topics, such as human rights and workers’ rights

When? Formed in 2017. Launched in Milan

Who? Collaboration of Austrian, French, German, Italian and Spanish institutional investors with €22bn in AUM

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The Investor Agenda

What? Central online climate action reporting platform for investors. Promotes initiatives such as ClimateAction 100+ and the CDP investor requests. 

When? Formally launched September 2018

Who? Developed by seven organisations including the PRI and the IIGCC. Used by nearly 400 investors with $32trn in AUM as at launch

Climate Action 100+

What? Five-year institutional investor-led initiative to engage with substantial greenhouse gas emitting companies to improve corporate governance on climate change, curb emissions and strengthen climate-related financial disclosures.

When? Launched in December 2017

Who? Coordinated by five partner organisations including the IIGCC and PRI. As of October 2018, supported by 310 investors with more than $32trn in AUM

Transition Pathway Initiative (TPI)

What? Assesses companies’ preparedness for transition to low-carbon economy, with results published through publicly available tool

When? Launched January 2017

Who? Joint initiative between Church of England national investing bodies and the Environment Agency Pension Fund. Backed by asset owners with more than $9trn AUM as at June 2018. Academic partner: Grantham Research Institute on Climate Change and the Environment

Workforce Disclosure Initiative (WDI)

What? Initiative targeting better disclosure of company workforce management practices. Ultimate goal is to improve job quality.

When? Launched in July 2017 with survey sent to 75 ‘megacap’ companies. 2018 survey sent to 500 global companies.

Who? Coordinated by ShareAction. Backed by more than 100 investors with over $12trn in AUM

Corporate Human Rights Benchmark (CHRB)

What? Investor- and civil society-led collaboration running a public benchmark assessing about 100 companies’ human rights performance 

When? Concept launch in 2013, pilot benchmark launch in March 2017. 

Who? Advisory council made up of representatives from civil society organisations, investors (APG, Aviva Investors and Nordea) and independent members 

Science Based Targets initiative (SBTi)

What? Encourages companies to set science-based greenhouse gas emissions reduction targets 

When? Launched in June 2015 

Who? Collaboration between CDP, UN Global Compact, World Resources Institute, and the WWF. Nearly 500 companies identified as taking science-based climate action, 141 as having approved science-based targets

Disclosure developers

CDP

What? Not-for-profit organisation running a disclosure platform for self-reported environmental performance information by companies, cities, states and regions

When? Established in 2003 as Carbon Disclosure Project

How? Manages company questionnaires for climate change, water, forests and supply chains

Taskforce on Climate-related Financial Disclosures (TCFD)

What? Developed recommendations for “decision-useful” voluntary climate-related financial disclosures mainly by companies but also investors (June 2017)

When? Established by Financial Stability Board, late 2015. Recommendations now supported by 513 organisations including 287 financial and 170 non-financial companies

Who? Chaired by Michael Bloomberg, philanthropist and former New York mayor

Campaigning, advocating, co-ordinating 

ShareAction

What? UK-based responsible investment campaign organisation with a focus on using pension savers’ voice to seek change. Working to “build a movement for change in our investment system” 

When? Established as FairPensions in 2005, re-named in 2013. Absorbed Asset Owners Disclosure Project (AODP) in 2017. Looking to expand work deeper into Europe and beyond

Who? CEO: Catherine Howarth; Chair: Paul Dickinson, CDP founder and executive chair

FCLTGlobal

What? Not-for-profit organisation dedicated to encouraging long-termist behaviour in business and investment decision-making

When? Began in 2013 as initiative of the Canada Pension Plan Investment Board and McKinsey & Company, which together with BlackRock, The Dow Chemical Company and Tata Sons founded FCLTGlobal in July 2016

Who? CEO: Sarah Williamson; Chair: Mark Wiseman, global head of active equities and chairman of Alternative Investors, BlackRock

Eurosif

What? Leading pan-European membership organisation for promotion and advancement of sustainable and responsible investment (SRI)

How? Works as a partnership of Europe-based national Sustainable Investment Fora (SIFs). Founding member of Global Sustainable Investment Alliance, alliance of largest SIFs around the world

Who? Executive director: Flavia Micilotta; Chair: Will Oulton, global head, responsible investment at First State Investments

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Special Report: ESG takes root