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IIGCC Issues Private Debt Guidance

The Institutional Investor Group on Climate Change (IIGCC) has issued guidance for private debt, bringing the asset class into the Net Zero Investment Framework. The guidance aims to establish a cohesive framework for action across the private debt industry for setting and delivering on net zero commitments, the IIGCC said. The Net Zero Investment Framework provides a foundation for asset owners and managers to align their investments across asset classes with the goals of the Paris Agreement. The latest guidance has been designed for investors engaged in direct lending, venture or growth debt, opportunistic credit, structured credit, fund financing and private placements. “Private debt is a growing asset class with unique challenges,” said Peter Ellsworth, Senior Director at investor network Ceres. “This guidance balances ambition with practicality, providing bespoke net-zero target types and tailored engagement strategies.” The guidance coincides with an update from the IIGCC-convened Paris Aligned Asset Owners – an investor initiative with US$3.3 trillion in assets under management committed to supporting the goal of net-zero greenhouse gas emissions by 2050 or sooner. The report found that 71% of signatories have set quantitative targets to increase allocation to climate solutions, while 33% have identified climate solutions as being the most impactful action and a key driver of decarbonisation.

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