Climate change Expectations of Subsidiaries

The risks associated with climate change are present whether business leaders have identified them or not.  Companies are increasingly required to report by their investors on the risks posed to their business by climate change and biodiversity loss. But expectations are growing among other stakeholders, including citizens and customers,  that businesses will communicate their plans to reduce their impact on the planet and contribute to society. The result is a growing need to address double materiality analysis in pursuit of a just and green transition, reporting on both the environmental and societal risks posed to and by a business committed to futureproof its operations and behave responsibly.

This document provides the expectations of Growthfund towards its investee companies (current and prospective)  that they should embrace an ‘as-if-listed’ mindset. However,  we are mindful some will be more directly impacted by  climate change than others.

Growthfund, the National Fund of Greece, is a proud member of One Planet Sovereign Wealth Funds network which supports the alignment of large, long-term and diversified asset pools with the goals of the Paris Agreement, based around three guiding principles: 1. Alignment; 2. Ownership; 3. Integration.