Michael Moore, Director General of the BVCA, said:
“The IPCC’s Climate Change 2021 report makes for sobering reading. It is a stark reminder of the action that we must take, collectively and without delay, to avoid further, potentially irreversible, damage to our planet.
“The private equity and venture capital industry is alive to and committed to the role it can play - and has been playing - in preventing climate change. Sustainability and responsible investment are already high on the agenda for firms – for example, many now build ESG objectives into their business strategies and treat impactful investments as a must, rather than just a nice-to-have.
“Firms understand the collective responsibility they have in countering this problem, too. Currently, more than 90 private equity firms – supporting companies collectively worth $700bn – have signed up to the Initiative Climat International (iCI), a first of its kind climate initiative for private equity. Members of this group are working with the companies they invest in to drive down their greenhouse gas emissions.
“The industry will continue to focus on this issue, including changing how investment decisions are made. Private equity and venture capital understand the role they have to play in safeguarding our planet’s future and will continue to support the innovative companies and make the responsible business decisions which will deliver on this. The industry is looking forward to the continued support it can give the government’s Net Zero objectives too, particularly in the lead up to COP26.”
Notes to editors
- For more information on any of the above, please contact the BVCA’s External Communications Manager, Will English, on firstname.lastname@example.org.
- The British Private Equity & Venture Capital Association (BVCA) is the industry body for the UK private equity and venture capital industry. The BVCA has over 750 member firms, including more than 450 fund managers and institutional investors, representing the majority of UK-based private equity and venture capital firms and their advisers.