Takapuna-headquartered boutique firm, Pathfinder, has become only the second NZ-domiciled manager to join the Investor Group on Climate Change (IGCC).
To date, the NZ Superannuation Fund has been the sole Kiwi representative in the IGCC, which describes itself as a “collaboration of Australian and New Zealand investors”.
“The IGCC represents institutional investors, with total funds under management of around $2 trillion, and others in the investment community interested in the impact of climate change on investments,” the lobby and research group’s website says. “The IGCC aims to encourage government policies and investment practices that address the risks and opportunities of climate change, for the ultimate benefit of superannuants and unit holders.”
IGCC also collaborates with similar offshore organistions to develop lobby governments, research and develop climate change-related investmen policies
Pathfinder director, John Berry, said the IGCC membership fitted perfectly with the manager’s renewed focus on sustainable investing.
Last year Pathfinder rebranded under the ‘invest responsibly’ tagline while simultaneously launching a new retail version of its environmental, social and governance (ESG) themed global equities fund.
Since the rebrand Pathfinder has also hired two new staff including a dedicated ESG analyst. Earlier this month Pathfinder dropped 10 of the 13 fossil fuel-exposed stocks in its global shares portfolio.
Berry said the IGCC news also coincided with Pathfinder gaining certification from the Responsible Investment Association Australasia (RIAA) for two of its funds: the Global Responsibility Fund; and, the Global Water Fund.
Just four other NZ firms – AMP Capital NZ, Kiwi Wealth, Medical Assurance Society and Booster – have garnered RIAA certification for some of their products. However, in total RIAA has certified just under 40 products available in the NZ market including offerings from Morphic Asset Management, Australian Ethical, Pengana and Russell Investments.
Last week the RIAA also set September 18 as the date for its NZ conference this year to be hosted in Auckland’s Hilton Hotel.