During a recent panel conversation at the U.N. Climate Change Conference, the Institutional Investors Group on Climate Change (IIGCC) announced that a prominent sustainable investment framework will upgrade the importance of the agriculture, forestry, and fisheries sector for the finance community. The conversation was organized by Food Tank, the Future Economy Forum, and the FAIRR Initiative.
During the session, panelists Ertharin Cousin of Food Systems for the Future, Jeremy Coller of FAIRR, Mahesh Roy of IIGCC, and Zitouni Ould-Dada of the U.N. Food and Agriculture Organization underscored the importance of investing in food systems transformation.
To advance this goal, Roy, IIGCC’s Director of Investor Strategies Programme, shared that the Net Zero Investment Framework (NZIF) will classify agriculture, forestry, and fisheries as a high impact sector.
“IIGCC has upgraded agriculture, forestry and fishing to a high impact sector in the Net Zero Investment Framework, meaning global investors will have the same expectations of companies in these sectors as they do with fossil fuel firms,” Roy says.
NZIF is the most widely used net zero framework for investors, helping them develop net zero targets and transition plans. The reclassification means that the agriculture sector is being recognized for the “substantial greenhouse gas emissions” created during operations.
Launched in 2021, the Framework was developed by more than 110 investors representing US$34 trillion in assets helped to develop the Framework. NZIF outlines strategies for investors to decarbonize their portfolios and increase investment in climate solutions to achieve net zero emissions by or before 2050.
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