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In brief: IIGCC launches net-zero stewardship toolkit

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Published: 26 April 2022

The Institutional Investors Group on Climate Change (IIGCC) has launched a net-zero stewardship toolkit ahead of AGM season. Plus, ILX and Asian Development Bank forge partnership, and Hurama Fund backs India’s MFI

IIGCC’s net-zero stewardship aims to help investors enhance their stewardship practices to accelerate decarbonisation efforts  | Photo by Agustín Lautaro on Unsplash

The Institutional Investors Group on Climate Change (IIGCC) has launched its Net Zero Stewardship Toolkit, aimed at helping investors to enhance their stewardship practices to accelerate decarbonisation efforts. 

The toolkit is aligned with both the Net Zero Asset Manager and Paris Aligned Asset Owners, and has been published in advance of this year’s AGM season for most major European and North American companies. 

“The toolkit provides clear parameters and a systematic framework for what good corporate engagement looks like, including escalation actions, such as filing a shareholder proposal, to be used when time bound objectives are not met,” said Stephanie Pfeifer, CEO, IIGCC, said.  

“While corporate engagement can be a multi-year process, the toolkit is timely given the imminent AGMs at many of Europe and North America’s largest public companies. For those companies putting forward climate transition plans, including via ‘Say on Climate’ votes, the message is clear: only put forward credible plans or expect investors to vote against you.”   

ILX and Asian Development Bank forge partnership   

The Asian Development Bank (ADB) and ILX Management (ILX) have joined forces to scale up investments and mobilise institutional capital for economic development and social progress in ADB’s developing member countries (DMCs).  

ILX will be investing on behalf of Dutch pension provider APG Asset Management, as well as additional pension fund participants.  

The cooperation arrangement is in line with ADB’s focus on building strong partnerships with institutional investors to achieve a prosperous, inclusive, resilient and sustainable Asia and the Pacific.

It will also further enhance the bank’s capacity to meet the objectives of the Paris Agreement on climate, and help deliver plans to provide $100bn in cumulative climate finance to DMCs from 2019 to 2030.  

APG Asset Management, recently committed US$ 750m as a cornerstone investor to ILX Fund I, on behalf of pension fund clients ABP and bpfBOUW, as reported by Impact Investor.

Huruma Fund’s backs India’s MFI Pahal

The Huruma Fund, which aims to help improve the quality of life of small farmers at risk of exclusion in Latin America, the Caribbean, sub-Saharan Africa and Asia, has completed a new investment of India, by acquiring a minority stake in microfinance institution (MFI) Pahal for €6m.

Pahal provides loans to low-income households with a strong impact on women and farmers. Created in 2011, it is currently present in seven states in central India and has become one of the fastest growing MFIs.

This is the second equity investment in India for The Huruma Fund, which is managed by GAWA Capital and financed by the European Union, FONPRODE, COFIDES and private investors.

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