Investcorp, a prominent global player in the realm of alternative investments, has disclosed its pivotal role as an “Associate Pathway Partner” for the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28). This landmark event is slated to unfold in Dubai, United Arab Emirates, from November 30 to December 12, 2023. Investcorp’s involvement underscores its commitment to aligning with the United Arab Emirates’ aspiration to position COP28 as a transformative juncture. The conference aims to unite policymakers, climate experts, innovative enterprises, and capital providers in a concerted effort to expedite tangible solutions for addressing decarbonisation and the far-reaching consequences of climate change. With over four decades of experience in identifying, investing in, and nurturing transformative enterprises, Investcorp acknowledges the pivotal role that private capital and expertise must assume in catalysing action and delivering results.
Mohammed Alardhi, Executive Chairman of Investcorp, underscored the urgency of the climate crisis, stating, “Recent climate events and record temperatures around the world underscore the reality that we are facing increasing risks with limited time to act.” Alardhi emphasised that COP28 has identified delivering urgent action on climate finance, both from governments and the private sector, as one of its paramount priorities. He stressed the significance of seizing the opportunity presented by COP28 to make tangible progress, emphasising that the UAE’s ambitions align seamlessly with Investcorp’s unwavering dedication to deploy its capital and business acumen towards strategic investments and transformative projects that offer sustainable solutions.
Rishi Kapoor, Co-CEO of Investcorp, reiterated the importance of COP28 as it marks the inaugural Global Stocktake to assess global progress in meeting the climate goals outlined in the Paris Agreement. Kapoor acknowledged that current progress falls behind the established benchmarks and affirmed Investcorp’s commitment to actively contribute to capital reallocation and new investments required for accelerated decarbonisation. Kapoor also hinted at forthcoming major initiatives to reinforce Investcorp’s resolute commitment to this cause.
Investcorp, in tandem with its sponsorship of COP28, has also declared its commitment to achieving net-zero greenhouse gas (GHG) emissions by 2050 or sooner. This aligns with global endeavours to limit global warming to 1.5 degrees Celsius. Earlier this year, Investcorp joined the Initiative Climat International (iCI), a private consortium of investors dedicated to comprehending and mitigating carbon emissions from private markets-backed companies.
In addition to its participation in iCI, Investcorp is a signatory to the United Nations Principles for Responsible Investment and the Abu Dhabi Sustainable Finance Declaration. The firm also adheres to the Sustainability Accounting Standards Board standards and is a member of the ESG Data Convergence Initiative. Investcorp’s involvement in these initiatives underscores its commitment to sustainability, both in its operations and investment strategies.
In June 2023, Investcorp unveiled its report titled “Responsible Growth,” elucidating its approach to environmental, social, and governance (ESG) factors and its resolve to lead in responsible investing. The report outlines three core commitments:
- Building High-Performing Businesses: Investcorp places a strong emphasis on governance practices, stakeholder collaboration, and data-driven strategies to navigate climate-related challenges and optimise business operations.
- Driving Social Impact: The firm advocates for diverse and inclusive work environments, supports community well-being, and promotes educational advancement.
- Transitioning to a Zero-Carbon Economy: Investcorp actively supports portfolio companies in aligning with global sustainability objectives while concurrently working to reduce its own emissions footprint.
Investcorp’s multifaceted engagement in climate-conscious initiatives reinforces its dedication to addressing the pressing challenges of our time, underscoring the pivotal role of the financial sector in driving meaningful change towards a sustainable future.