CrossBoundary Energy secures US$40M in equity from Norfund and Norwegian pension fund, KLP, to expand C&I portfolio across Africa
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CrossBoundary Energy secures US$40M in equity from Norfund and Norwegian pension fund, KLP, to expand C&I portfolio across Africa
Read more
Climate change is one of the most challenging and pressing issues of our time. ARCH recognises the key role and multiplier effect that private funds have to play to mitigate and adapt to climate change and to accelerate the transition towards a low-carbon economy in line with the Paris Agreement. We also recognise the risks climate change presents that need to be managed. Therefore, we are committed to providing tools and resources that enable Funds to integrate climate factors across the investment process.
ARCH's aims to contribute to the Paris Agreement to limit global warming to well-below 2°C and ideally to 1.5°C compared to pre-industrial levels by playing a meaningful role in tackling climate change and supporting countries and communities in a successful and just transition to net zero and resilient economies. We are a signatory of the Initiative Climate International (iCl) and are committed to developing internal approaches that align with the Financial Stability Board (FSB) Task Force on Climate-related Financial Disclosures (TCFD).
We have engaged Schneider Electric’s Sustainability Business, a global leader in energy management, climate change advisory services and sustainability consulting, to undertake climate risk and scenario analysis of our portfolio, along with comprehensive emissions reporting for Scope 1, 2 and 3 per the GHG Protocol and the Partnership for Carbon Accounting Financials (PCAF). This partnership will also support our climate strategy and target setting process in line with a recognised framework, and enable us to determine specific targets and mechanisms to measure them. We plan to announce our intended framework and targets by July 2023.