London; November 30, 2020: CDP is delighted to welcome GIC, Singapore’s sovereign wealth fund, as our newest investor signatory. GIC joins the growing ranks of 560 investors with US$106 trillion in assets and 150+ large purchasers with over US$4 trillion in procurement spend in requesting thousands of companies to disclose their environmental data through CDP.
Engaging portfolio companies on their plans for addressing climate change-related risks, encouraging them to understand and disclose their climate-related metrics in line with TCFD recommendations, and supporting them in their transition towards lower carbon business models and long-term sustainability, are a few of the ways in in which investors are seeking to positively impact the industry.
Liew Tzu Mi, Chief Investment Officer for Fixed Income and Chair of GIC’s Sustainability Committee, explained GIC’s decision to partner with CDP: “The organization plays an important role in driving greater disclosures on the business risks and opportunities presented by climate change. Its disclosure framework is based on TCFD recommendations, which provides companies with clear guidance on the material environmental metrics they should measure, monitor, and disclose. Its database of disclosures by companies and cities provides investors with consistent, timely, and financially relevant climate change-related metrics. Taken together, these tools help to enhance the focus and quality of investors’ dialogues with companies on their climate risk mitigation measures.
We believe that investors can benefit from having access to high quality and consistent carbon emissions and climate-risk data on their portfolio. GIC is already a supporter of TCFD. We support CDP’s efforts to further encourage TCFD-aligned climate risk disclosures by companies on its global reporting platform.”
Paul Simpson, CDP’s Chief Executive Officer, commented: “Investors are uniquely equipped to integrate climate and environmental data into financial decisions and accelerate the transition to a low-carbon economy. Over the past 20 years, CDP has worked with financial institutions to meet the growing demand for consistent, comparable environmental data that is fully aligned with the TCFD framework. In 2020, over 560 investors with US$106 trillion in assets signed our disclosure request across climate change, water and forests.
As a globally influential long-term investor, we are proud to partner with GIC, and provide the information needed to assess climate-related risks, opportunities for value creation and collaborative engagement with companies on their environmental impact.”
Notes to Editors:
CDP is a global non-profit that drives companies, cities and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors and working with institutional investors with assets of US$106 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. Over 9,600 companies with over 50% of global market capitalization disclosed environmental data through CDP in 2020. This is in addition to the hundreds of cities, states and regions who disclosed, making CDP’s platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP is a founding member of the We Mean Business Coalition. Follow us @CDP to find out more.
GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. As a disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. Headquartered in Singapore, GIC has investments in over 40 countries and employs over 1,700 people across 10 offices in key financial cities worldwide. For more information on GIC, please visit www.gic.com.sg or LinkedIn.