From States to banks, investment funds to philanthropists, institutional investors have considerable weight in the global economy. They met during the One Planet Summit and committed to working together for the climate.

 

18 %

targeted companies supporting or committed to implementing the TCFD recommendation

22 %

targeted companies set or committed to setting a target for reducing their GHG emissions beyond 2030

Announcements

Global collaborative initiative launched by 225 investors to engage an initial list of 100 of the largest global corporate GHG emitters to:

  • Implement a strong governance framework which clearly articulates the board’s accountability and oversight of climate change risk.
  • Take action to reduce GHG emissions across the value chain, consistent with the Paris Agreement.
  • Provide enhanced corporate disclosure in line with the final recommendations of the TCFD to improve investment decision-making.

Accomplishments

  • Expansion in both scope and influence with:
    • 279 signatories with nearly $30 trillion in AUM
    • +61 companies in the initiative’s focus list
  • Structure established via the steeting committee: Australian Super, Calpers, Ircantec (CDC), HSBC GAM, Manulife AM, supported by : AIGCC, Ceres, IGCC, IIGCC, PRI
  • Engagement roadmap with the 100 companies defined and adopted; roadmap of engagement strategies developed and implemented is underway

Next steps

  • Initial program report (fall 2018): this public annual report will assess how the companies have responded to the collaborative engagement and set the investors’ engagement priorities for the year ahead
  • Qualitative report on results from initial engagement
  • Unveil new website
  • Publication of a complementary list of companies to be engaged
We believe that engaging with the companies in which we invest to aggressively step up their actions on climate change is consistent with our fiduciary duty and will contribute to achieving the goals of the Paris Agreement.

Betty Yee, California State Controller, CaPPERS Board member

15+

startup companies created and invested in by Breakthrough Energy Ventures

5

of Breakthrough Energy’s “Grand Challenges in Climate” (Electricity, Agriculture, Buildings, Manufacturing, and Transportation) covered by closed deals.

Announcements

  • Expansion of the Breakthrough Energy Coalition (BEC) to include a diverse global network of leading banks, funds, energy producers, and technology companies
  • Partnerships with 5 Mission Innovation members: Canada, Mexico, UK, France and the European Commission
  • Investments from Breakthrough Energy Ventures (BEV), the US$1bn fund dedicated to building cutting-edge companies that will help stop climate change

Accomplishments 

  • Increased Coalition’s membership
  • Completed studies on innovation hotspots and ecosystems with 2 MI partners
  • Publication of a series of clean energy technology roadmaps and public sector best practices
  • Held series of strategic meetings (including BEC member participation at MI’s third ministerial)
  • Exploring co-investment opportunities with MI partners
  • Launch of a joint program with France on unlocking and scaling-up private investment in clean energy SMEs
  • Breakthrough Energy Ventures began investing across geographical regions.

Next steps

  • Establish initial programmatic initiatives for the Coalition
  • Launch co-investment opportunities with several of our Mission Innovation partners
  • Implementation of joint program with France
  • Fourth Mission Innovation ministerial meeting in Vancouver in May 2019
  • Breakthrough Energy Ventures will continue to aggressively invest in startups and form companies across sectors and geographies
Energy transitions take a long time, but there’s more urgency than ever to prevent the worst impacts of climate change. We need new models of investment and new partnerships between governments and a broad network of investors, companies, and energy customers. BEC is designed to help facilitate those partnerships and bring more energy products from the lab to the market more quickly.
Bill Gates, Chair of the Board

+ 4

foundations joined the Task Force, taking current philanthropy membership to 16

+ 1

government member – Canada, France, UK are now joined by Germany. Interest expressed by Australia, Italy, Japan, Sweden and Norway

Announcements

  • Task Force to expand philanthropy’s role in the accelerated delivery of the Paris Agreement with 12 philanthropists and 3 governments.
  • Identify the mechanisms of collaboration with governments, public finance agencies, philanthropists and institutional
    investment partners.
  • Mobilise additional funding to: accelerate the deployment of renewable energy and storage; tackle air pollution; propose climate-resistant agricultural models.

Accomplishments 

  • New set of intergovernmental and global philanthropic partnerships with dynamic working relationships
  • 4 Working Groups formed to explore opportunities and joint programmes in the fields Blended Finance, Renewable energy in South East Asia, Air quality and Agriculture
  • Design of scalable blended finance investment vehicle focused on climate infrastructure in emerging markets.

Next steps

  • Public launch of the Task Force for philanthropic innovation,
  • Philanthropies and governments announce significant progress in:
    • Development of flagship blended finance vehicle.
    • Coalition preparing offer of assistance for renewable energy transition in South East Asia.
    • Cross-sector action plans for Air Quality and Agriculture Working Groups .
    • Expand pilot geography explorations beyond Asia to Africa, South America and Europe.
    • Increase philanthropic members to 18+.
    • Roll out projects and financing – proof of concept through pilots