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IIGCC appoints Peter Damgaard Jensen as chairman

Peter Damgaard Jensen, chief executive of the large Danish pension fund manager PKA has become chairman of the Institutional Investors Group on Climate Change (IIGCC). Jensen took over from Donald McDonald, who has also retired from his post as a BT Pensions trustee director, at the beginning of the year.

The IIGCC currently has over 130 members, from nine countries, representing over €14 trillion in assets. It provides investors with a collaborative platform to encourage public policies, investment practices, and corporate behaviour that address long-term risks and opportunities associated with climate change.

New chairman of IIGCC Peter Damgaard Jensen

Jensen said, “In recent years IIGCC’s membership has grown rapidly alongside its growing influence on climate and energy policy across the EU and in key international forums. IIGCC’s members and the substantial assets they represent make IIGCC an organisation that policy makers and governments now take seriously – as became particularly clear during the climate negotiations at COP 21 that delivered the Paris Agreement.

“I very much look forward taking over from Donald Macdonald as Chair of IIGCC and to promoting and enhancing the great work he oversaw during his remarkable five year tenure.

IIGCC aims to achieve the adoption of strong and credible public policy solutions that ensure an orderly and efficient move to a low-carbon economy, as well as measures for adaptation.

The IIGC has recently come out to support of the Financial Stability Board’s Task Force on Climate-Related Financial Disclosures’ report which is currently being consulted on. Writing in its blog the IIGC’s chief executive, Stephanie Pfeifer, said that investors would encourage adoption of the TCFD standards through their work as supporters of IIGCC’s corporate work programme and users of IIGCC’s investor expectations guides for key high carbon sectors such as oil & gas, mining, utilities and automotive.

Pfiefer said the IIGCC hoped that many more investors will come forward to strengthen these co-ordinated engagement initiatives and to support the work of a new IIGCC sub-group on shareholder resolutions.

What do you think?