Moody’s Investors Service has said it is joining the Institutional Investors Group on Climate Change as the first credit ratings agency to become an associate member of the Group.
Moody’s said the topics being considered by the Group were ones that “will be important drivers for credit quality in the future”, as companies seek to implement their responses to agreements such as the Paris Agreement on climate change mitigation.
Stephanie Pfeifer, CEO of IIGCC, said that the membership of Moody’s was a “positive step that sends a powerful message to a segment of the financial sector that has valuable research and insight to contribute to our work and activities going forward.”
“We look forward to working closely with Moody’s as we continue to develop our work on how to integrate climate risk and opportunities into investment practices.”
the IIGCC, based in the UK, counts some 140 members, including a number of the largest pension schemes and asset managers in Europe, representing some €20trn of assets.