October 20, 2008
Today 150 top executives from companies supporting the UN Global Compact gather in Geneva for the first meeting of signatories to the new initiative Caring for Climate. Only one service provider for Responsible Investment has signed, GES Investment Services, which will be represented by Magnus Furugård, President and Managing Director.
Caring for Climate is a joint initiative by the UN Global Compact (UNGC), the UN Environment Programme (UNEP) and the World Business Council for Sustainable Development (WBCSD). It is a voluntary and complementary action platform for active UNGC participants who seek to demonstrate leadership on the issue of climate change by taking measures to reduce their carbon footprint.
So far, 297 of the 4,300 companies supporting UNGC have also joined Caring for Climate. Around 20 are from the financial industry, while GES Investment Services is the sole signatory from the sector that provides this industry with research and advice on e.g. climate issues. Currently, client assets under advice by GES Investment Services amount to approximately Euro 300 billion.
“As a signatory to the UN initiatives Global Compact and Principles for Responsible Investment, it is natural for us to support Caring for Climate; joining this initiative is part of GES’ policy to walk the talk. Climate change is one of the most challenging and crucial issues of our time and an issue of great concern to many of GES’ clients. Therefore, we believe our participation will benefit our clients too through access to cutting-edge information and as we build further upon GES’ knowledge base on these issues”, says Magnus Furugård, President and Managing Director.
On October 20-21, he and approximately 150 other signatories will meet at the UN headquarters in Geneva to highlight good climate strategies and practices as well as to develop a roadmap for the initiative in the coming years.