A group of private equity majors including Permira and Coller Capital have teamed up to help fight climate change through the launch of a new international network.
Initiative Climat International (iCI) was originally launched as the iC20 in 2015 by a group of French private equity firms, to contribute to achieving the objectives of the Paris Agreement – to limit global warming to well-below 2C, and to pursue efforts to limit the temperature increase even further to 1.5C.
UK firms Permira, Coller, HG, ICG, NorthEdge, Palatine, Towerbrook and Triton have now joined forces to internationalise the network, with investors collectively committing to actively engage with PE-backed companies globally to reduce carbon emissions intensity and secure sustainable investment performance by recognising and incorporating the materiality of climate risk.
Fiona Reynolds, CEO of the Principles for Responsible Investment, said, “The PRI welcomes the announcement that a group of leading private equity investors have joined the Initiative Climat International, and in doing so are stepping up to the climate challenge.
“We are pleased to support this initiative and encourage private equity firms to join this committed group of investors as they seek to better manage climate-related risks.”
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