We are committed to working with others operating in the space of responsible investing, in order to advance best practice and drive consistency in shared challenges such as data consistency, measurement frameworks, and reporting. We also recognise the value of learning from industry experts and thought leaders, in order to leverage that knowledge in our own ESG (environmental, social and governance) approaches.
ICG has been focused on 3 key areas:
2022 working groups participation
- Active member of the Initiative Climat International (iCI) – co-chaired the Carbon Footprinting Working Group – see spotlight for further details. ICG also cofounded the Private Credit Working Group and sits on the Net Zero, and Regulatory working groups.
- Contributing to industry advancement through a number of other collaboration groups: PRI Investors Corporate Reporting Reference, Invest Europe ESG standards, PRI/LSTA/ACC – ESG Integrated Disclosure Initiative.
- Member of the TNFD Forum.
- Regularly contributes to the BVCA and Invest Europe regulatory working groups.
Spotlight: Towards harmonised GHG accounting and reporting in private equity – an iCI sector guidance
Private market investors are increasingly being called upon to set ambitious climate commitments. Regulators, investors, lenders, and other stakeholders alike, are demanding GHG reporting against consistent and comparable climate metrics.
Against this backdrop of rising transparency requests, the iCI members saw an opportunity to develop a specific guidance to private equity investors. As co-chair of the working group tasked with developing this guidance, ICG was proud to spearhead this effort, and bring our experience to bear in providing investors and their portfolio companies consistent guidance on:
- Carbon footprinting
Calculating Scope 1, Scope 2 and Scope 3 emissions.
- Financed emissions
Attributing GHG emissions from portfolios to GPs and Limited Partners (LPs).
- Fund reporting
Aggregating emissions at the fund level and reporting to stakeholders.
- Target setting
Conducting portfolio analysis with a view to set targets that support the transition to a net zero economy.
View guidance developed in partnership with leading sustainability consultants – ERM