Phillip Capital Management (PCM) has become a signatory to the United Nations-supported Principles for Responsible Investment (PRI), a global proponent of responsible investments with an international network of over 4,600 investor signatories.
PRI, which has an international network of over 4,600 investor signatories, strives to understand the investment implications of environmental, social and governance (ESG) factors. It also supports its investor signatories in incorporating ESG factors into their investment and ownership decisions.
As an investor signatory, PCM will use the UN-supported PRI guidelines to revise investment policy and develop investor-targeted reports that provide insight to its performance, decision-making and ESG integration approach.
“By adopting and implementing the internationally-recognised principles for responsible investment, we aim to contribute to a more sustainable financial system and strengthen investor trust as we work towards greater transparency and accountability,” says Stephen Beng, PCM head of ESG strategy.
PCM has also pledged support for the Task Force on Climate-Related Financial Disclosures (TCFD), joining 2,800 organisations around the world.
TCFD recommends principles for effective disclosure to help achieve high quality reporting that enables users to understand the impact of climate change on organisations.
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“Getting the world on track for 1.5 degrees Celsius requires a surge in annual clean energy investment estimated by the IEA a US$4 trillion($5.5 trillion) by 2030. We want our investments to reinforce companies that are aligned to a low-carbon economy, but also reward those that choose a just and nature-positive pathway,” Beng explains.
“Our clients depend on our reports to gain understanding on how climate-related risks and opportunities are managed within our portfolios. We rely on TCFD to help us address these considerations,” he adds.
Photo of Stephen Beng: Samuel Isaac Chua/The Edge Singapore
