Wednesday 29 March 2017
The Institutional Investors Group on Climate Change (IIGCC) is calling for an ambitious long term decarbonisation strategy to help the UK transition towards a low carbon economy.
The IIGCC, which represents 137 European institutional investors, warns that without a plan for decarbonisation, the UK may fail to attract sufficient investment to build a low carbon economy.
The investors have set out five core principles they believe should feature “strongly” in an effective emissions reduction plan (EPR).
Philllippe Defosses, CEO of French pension fund ERAPF and Vice Chair of IIFCC said: “For pension funds and others investing for the long term, it’s vital the UK clarifies its decarbonisation ambitions to 2030 and as it leaves the European Union but it must also start to envision how it plans to further raise ambition to drive additional decarbonisation to 2050 and beyond.”