International Award on Investor Climate Related Disclosures
13 January 2017
On the 10th of June 2016 during the fourth edition of the Council of the Parties 21 Business Dialogue, the French Minister of Environment, Energy and the Sea (Ms. Ségolène Royal) launched the International Award on Investor Climate Related Disclosures in Paris.
The award was designed to foster innovation and highlight best practice in investor climate change reporting in line with Article 173-VI of the Energy Transition for Green Growth Law of France. The French law is precise in its objectives with relation to climate related issues, namely requiring disclosures on the following:
- assessment of exposure to climate related risks
- the alignment of investor portfolios and actions with national and international climate objectives and,
- energy and ecological transition including implications for investment policies and decisions.
It was an initiative open to domestic and international applicants with a jury composed of French policy makers, European policy makers, advocacy NGO’s and investor groups. Ms. Ségolène Royal was Chair of the jury. The award focused on four main reporting aspects:
- Assessment of climate related risk exposure
- Contribution to the international climate objectives
- Integration of climate related criteria in the investment and engagement policies and
- Communication to clients and beneficiaries.
Local Government Super won Runner Up for “Best Reporting Award on Climate Strategy: Best Engagement”. The other winners included AXA, TPT Retirement Solutions, Actiam, Australian Ethical, Ircantec and Environmental Agency Pension Fund placing us in distinguished and highly respected international company.
In winning this award, the jury highlighted LGS’ effective ability to describe how climate related criteria is integrated into the investment process and how AUD 770 million is quantified as low carbon investments across different asset classes.
The jury also stated, "LGS distinguishes itself by its transparency in its engagement activities with companies, giving information (regarding) their activities and to some extent their impacts. The communication plan to clients and beneficiaries also stands out."