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The Global Center on Adaptation (GCA) signed its first cooperation agreement with the EMEA division of Invesco focused on an investment strategy in the climate adaptation space. The agreement, expected to become fully operational at COP27, is specifically targeted at exploring a blended finance strategy that aims to increase adaptation investment in developing markets. The MoU was signed at the margins of the ongoing Finance in Commons Summit organised by the African Development Bank and the European Investment Bank in Abidjan, Cote d’Ivoire.
Invesco is an independent investment management firm that offers a wide range of single-country, regional and global capabilities across primary equity, fixed income, and alternative asset classes, delivered through a diverse set of investment vehicles. Invesco is a signatory to the Task Force on Climate-related Financial Disclosure (TCFD), the Principles for Responsible Investment (PRI), Climate Action 100+, and CDP2 (score B in 2020); and has adopted the Network for Greening the Financial System’s (NGFS) scenarios to assess physical and transition risks across a broader range of asset classes.
GCA is an international organization that aims to accelerate action and support for adaptation solutions in partnership with the public and private sectors.
Speaking during the signing ceremony, Professor Patrick Verkooijen, CEO of the Global Center on Adaptation said: “Private sector investments currently make up less than 2% of climate adaptation spending. We hope through working closely with our partners at Invesco we will be able to unlock and mobilize more private capital to prepare for and respond to the physical impacts of climate change.”
Matthieu Grosclaude Chief Operating Officer EMEA at Invesco commented:
“We are very pleased to be partnering with the GCA on this important initiative to accelerate climate adaptation finance. It aligns strongly with our strong investment capabilities in emerging markets and our continued focus on clients’ partnerships. We very much look forward to working together to build a climate-resilient future.”
About Invesco
Invesco Ltd. (NYSE: IVZ) is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. With offices in more than 20 countries, our distinctive investment teams deliver a comprehensive range of active, passive, and alternative investment capabilities. For more information, visit www.invesco.com/corporate.
About Global Center on Adaptation
The Global Center on Adaptation (GCA) is an international organization that works as a solutions broker to accelerate action and support for adaptation solutions, from the international to the local, in partnership with the public and private sectors. Founded in 2018, GCA operates from its headquarters in the largest floating office in the world, located in Rotterdam, the Netherlands. GCA has a worldwide network of regional offices in Abidjan, Cote d’Ivoire; Dhaka, Bangladesh, and Beijing, China.