The private equity and venture capital industry will “continue… changing how investment decisions are made” to reduce greenhouse gas emissions, the British Private Equity and Venture Capital Association said.
The BVCA’s director general, Michael Moore, said the UN’s Intergovernmental Panel on Climate Change report “makes for sobering reading” – but private equity firms are already focused on reducing greenhouse gas emissions, in a statement yesterday.
Many private equity firms now prioritise ESG and impactful investing, said Moore. Ninety private equity firms, collectively managing assets worth $700 billion, have signed up to the Initiative Climat International, the UN’s climate initiative for private equity firms, Moore added.
“The industry will continue to focus on this issue, including changing how investment decisions are made…. and will continue to support the innovative companies and make the responsible business decisions which will deliver on this.
“The industry is looking forward to the continued support it can give the government’s Net Zero objectives too, particularly in the lead up to COP26.”
But the IPCC report “is a stark reminder of the action that we must take, collectively and without delay, to avoid further, potentially irreversible, damage to our planet”.