Resources aimed at increasing investor education and awareness on climate change have proliferated as the topic has grown in importance in recent years. On this page, we highlight a range, by no means exhaustive, of key resources in this area, produced by both the PRI and external authors.

 

Authoring Organisation Guidance title and hyperlink Description Asset Class Content Type
Science Based Targets Initiative (SBTi) Private Equity Sector Science-Based Target Guidance This Guidance supports PE firms’ GPs to set ambitious greenhouse gas (GHG) emissions reduction targets (SBTs) for their operations (scope 1 and 2 emissions) and firm-level portfolio SBTs for their investment and lending activities (scope 3, category 15). Private equity Technical guide
The Coalition for Climate Resilient Investment (CCRI) Risk and Resilience – Addressing physical climate risks in infrastructure investment This report explains the case for building resilience to physical climate risks into infrastructure investments, and details the CCRI’s mandate and operating framework, including working groups and deliverables. Infrastructure Discussion paper
London School of Economics and Political Science - Grantham Research Institute on Climate Change Climate change and the just transition: A guide for investor action This guide sets out how investors can pursue the goal of a just transition as part of their core operating practices, trough five areas for action (Investment strategy; corporate engagement; capital allocation; policy advocacy and partnership; learning and review). Agnostic Technical guide
World Economic Forum How to Set Up Effective Climate Governance on Corporate Boards Guiding principles and questions Practical guidance for organisations to assess their approach to board governance of climate issues. Eight broadly-applicable principles for effective climate governance at the organisation level are introduced. This guidance builds on existing corporate governance frameworks, including the ICGN Global Governance Principles and the TCFD. Agnostic Technical guide
European Bank for Reconstruction and Development Advancing TCFD guidance on physical climate risks and opportunities This report sets forth recommendations, primarily targeted at corporations, to lay the foundations for a common conceptual framework and a standard set of metrics for reporting physical climate risks and opportunities. This guidance is concerned with standardisation around metrics for physical climate risk management and disclosures; metrics for climate resilience opportunities; and climate intelligence for business strategy and financial planning. Agnostic Metrics/standards
OECD Climate Resilient Infrastructure - Policy Perspectives This report highlights emerging good practices in climate resilient infrastructure and remaining challenges across OECD and G20 countries. It provides non-prescriptive guidance to countries as they seek to enhance resilience in line with their national circumstances and priorities Infrastructure Policy/standards
U.S. Securities and Exchange Commission SEC Response to Climate and ESG Risks and Opportunities A summary of recent actions and statements by the US Securities and Exchange Commission on its approach to climate-related and ESG risks and opportunities Agnostic Policy/standards
Vivid Economics Why a just transition is crucial for effective climate action This discussion paper unpacks the just transition into its various elements and explores its implications for the IPR forecast. The paper includes examples and some key principles for sound just transition policy development. Institutional investors are highlighted as playing a key role in the just transition. Agnostic Discussion paper
Institut Louis Bachelier The Alignment Cookbook: A Technical Review of Methodologies Assessing a Portfolio’s Alignment with Low-Carbon Trajectories or Temperature Goal This report explains how methodologies which seek to align portfolio with climate goals (such as the Paris agreement) are developed, and explores some key considerations for investors looking to implement said methodologies. Discussion paper
TCFD TCFD Knowledge Hub A collection of resources about climate-related financial disclosures, including guides, case studies, and research. Agnostic Resource list
Partnership for Carbon Accounting Financials (PCAF) The Global GHG Accounting and Reporting Standard for the Financial Industry A globally accepted standard for the measurement and disclosure of financed emissions. Financial Instiutions Standards
IP Australia National Carbon Offset Standard The Australian standard (i) sets minimum requirements for calculating, auditing and offsetting the carbon footprint of an organisation or product to achieve 'carbon neutrality', and (ii) provides guidance on what is genuine, additional voluntary offset. Standards
Task force on Climate-related Financial Disclosures TCFD recommendations The Australian standard (i) sets minimum requirements for calculating, auditing and offsetting the carbon footprint of an organisation or product to achieve 'carbon neutrality', and (ii) provides guidance on what is genuine, additional voluntary offset. Agnostic Standards
European Commission EU Taxonomy The EU taxonomy for sustainable activities is an output of the European Commission’s action plan on financing sustainable growth, published in March 2018. It is a classification system, establishing a list of environmentally sustainable economic activities. Taxonomy
IIGCC Net Zero Investment Framework: Implementation guide The Net Zero Investment Framework 1.0 provides a basis on which a broad range of investors can make net-zero commitments and define strategies, measure alignment, and transition portfolios. Agnostic Technical guide
University of Oxford The Oxford Principles for Net-Zero Aligned Carbon Offsetting Illustrates the four key elements to credible net zero aligned offsetting, according to the multidisciplinary team from the University of Oxford Agnostic Technical guide
SBTi Financial Sector Science-Based Targets Guidance The SBTi framework for financial institutions supports FIs to address climate change by providing resources for SBT setting. The framework includes target setting methods, criteria, a target setting tool, and this guidance document. Financial Instiutions Technical guide
Infrastructure Canada Climate Lens The Climate Lens is an assessment framework developed by Infrastructure Canada in 2018. It helps decision-makers understand the climate change risks and impacts associated with the design, construction and operation of large infrastructure projects in Canada Infrastructure Technical guide
CERES / ERM The changing climate for private equity Outlines the direction of the private equity sector with respect to climate. Explains the drivers supporting climate action, the obstacles, and the emerging solutions. Private Equity Technical guide
Invest Europe Climate change guide This guide provides private equity investors with practical tools and guidelines for integrating climate-related risks and opportunities across the different stages of the investment process. Full guidance available to InvestEurope members only. Private Equity Technical guide
UNEP FI Changing course: real estate - TCFD pilot project report and investor guide to scenario-based climate risk assessment in real estate portfolios A report exploring how to apply a scenario-based climate risk assessment methodology to a real estate portfolio, and analyse how the resulting quantitative metrics could improve investment decisions. Real estate Technical guide
CDC Integrating climate change into governance and risk management This guidance developed by CDC provides Financial Institutions (FIs) with practical steps on incorporating climate change considerations into their decision-making. It includes information on how climate change can drive financial risks to an FI, as well as guidance on how to implement the TCFD recommendations. Financial Institutions Technical guide
Cambridge Institute for Sustainability Leadership - ClimateWise The ClimateWise Physical Risk Framework The ClimateWise Physical Risk Framework demonstrates how the expertise and tools of the insurance industry can support other parts of the financial system to understand their physical risk exposure. The framework offers real estate investors and lenders a means of understanding the potential physical risks of climate change on their portfolios. Real estate Technical guide
Cambridge Institute for Sustainability Leadership - ClimateWise The ClimateWise Transition Risk Framework The ClimateWise Transition Risk Framework provides an open-source, step-by-step methodology on how to manage the risks and capture emerging opportunities from the low carbon transition. The framework is designed to help investors assess the breadth of asset types exposed to transition risk at portfolio level, define the potential financial impact of the low carbon transition down to asset level and incorporate transition impacts into asset financial models. Infrastructure Technical guide
IIGCC A guide on climate change for private equity investors A guide for private equity LPs and GPs, aimed at building awareness and supporting understanding of climate change and its impact on manager selection and consideration of investment opportunities. Private equity Technical guide
UNEP FI Sustainable real estate investment: Implementing the Paris Climate agreement - an action framework This framework sets out the measures and actions needed to support the integration of ESG and climate risks into the business of real estate investment and management. It provides a summary of the key steps in the investment process, must-do actions and recommended resources to guide real estate investors and their advisers throughout the entire lifecycle of a real estate investment portfolio. Real estate Technical guide
IIGCC Building Resilience to a Changing Climate: Investor Expectations of Companies on Physical Risks and Opportunities This guide sets out institutional investors' expectations of investee companies regarding the governance, assessment, management, and disclosure of physical climate risks and opportunities. Private equity Technical guide
Guidance title and hyperlink Description Asset Class Content Type
Developing an asset owner climate change strategy This guide details a recommended a 3-step framework for asset owners to develop an effective climate change strategy. The three steps are Measure (your portfolio exposure); Act (through your investment decisions and stewardship activities); and Review (by monitoring and reporting progress). The guide also includes case studies from signatories on their approach to different climate considerations in their investment strategies. Agnostic Technical guide
How to invest in the low-carbon economy: an institutional investors’ guide Focusing largely on investment allocations, this guide outlines some of the key options and strategies available to institutional investors to invest in a low-carbon economy, as well as an introduction to climate risk and opportunity assessment and scenario analysis. Agnostic Technical guide
Implementing the Task Force on Climate-Related Financial Disclosures (TCFD) Recommendations This guide provides tools and resources for asset owners to implement the recommendations of the Taskforce for Climate-related Financial Disclosures (TCFD), covering each of the four main pillars of the TCFD: Governance, Strategy, Risk Management and Metrics and Targets. The guide also includes consideration of the main drivers for asset owners to take action on climate change, and implement the TCFD recommendations specifically, as well as guidance on conducting climate scenario analysis. Agnostic Technical guide
The Inevitable Policy Response The IPR is an initiative commissioned by the PRI to advance the investment industry's knowledge of climate transition (policy) risks, and to support investors' efforts to incorporate climate risks into their portfolio assessments. Outputs from the programme include the IPR Policy Forecast, the IPR 1.5C Scenario, and the IPR Value Drivers - a suite of analysis and tools that allow investors to understand likely policy actions in all regions in response to climate change and their implications for the real economy. Agnostic Discussion paper
Directory of climate scenario tools A selection of both free-to-use and commercially available climate scenario analysis tools to support investor efforts on developing credible scenario analysis and planning. Agnostic Resource list
Technical guide: TCFD for real assets investors This guide provides real assets investors with suggested tools, resources and investor examples to support their implementation of the four pillars of the recommendations of the Taskforce for Climate-related Financial Disclosure (TCFD): governance, strategy, risk management and metrics and targets. The guide also includes consideration of the business case for real assets investors to take action on climate change. Infrastructure/real estate Technical Guide
TCFD for private equity general partners: technical guide This guide provides private equity investors with suggested tools, resources and investor examples to support their implementation of the four pillars of the recommendations of the Taskforce for Climate-related Financial Disclosure (TCFD): governance, strategy, risk management and metrics and targets. The guide also includes consideration of the business case for private equity investors to take action on climate change. Private equity Technical guide
A guide on climate change for private equity investors This guide includes two sections: Section 1 summarises the rationale for incorporating climate change concerns in private equity investments; Section 2 presents a framework that Limited Partners (LPs) and General Partners (GPs) can use in due diligence and when engaging with their fund and portfolio company investments. Private equity Technical guide
Title Description Organisation Asset Class
The Global GHG Accounting & Reporting Standard for the Financial Industry A global partnership of financial institutions that is developing a harmonised approach to assess and disclose carbon emissions associated with their loans and investments. Partnership for Carbon Accounting Financials Agnostic
The Paris Agreement Capital Transition Assessment (PACTA) The Paris Agreement Capital Transition Assessment (PACTA) is a free, open-source methodology and tool, which measures financial portfolios' alignment with various climate scenarios consistent with the Paris Agreement. The 2° Investing Initiative (2DII) Listed equity / coporate bonds
PAII Net Zero Investment Framework The framework is an output of the Paris Aligned Investment Initiative (PAII), a collaboration involving over 70 asset owners and asset managers with more than $16 trillion in assets, led by IIGCC. The PAII aims to provide consensus on objectives and a clear, transparent set of best practice approaches and actions to enable Paris-aligned/net-zero investment portfolios relevant for both asset managers and asset owners. IIGCC
The EU Taxonomy The EU taxonomy for sustainable activities is an output of the European Commission’s action plan on financing sustainable growth, published in March 2018. It is a classification system, establishing a list of environmentally sustainable economic activities. European Commission
Carbon Risk Real Estate Monitor (CRREM) Risk Assessment Tool CRREM aims at developing a tool that allows investors and property owners to assess the exposition of their assets to stranding risks based on energy and emission data and the analysis of regulatory requirements. By setting science-based carbon reduction pathways, CRREM faces the challenge to estimate risk and uncertainty associated to commercial real estate de-carbonization, building a methodological body and empirically quantify the different scenarios and their impact on the investor portfolios. Carbon Risk Real Estate Monitor (CRREM) Real estate
SASB Materiality Map SASB’s Materiality Map identifies sustainability issues that are likely to affect the financial condition or operating performance of companies within an industry. One of the issues included in the tool is greenhouse gas emissions. Sustainability Accounting Standards Board (SASB)
PPCA Finance Principles A coalition of national and sub-national governments, businesses and organisations working to advance the transition from unabated coal power generation to clean energy. Its PPCA Declaration commits signatories to work towards phasing out coal-fired power plants in the OECD by 2030, and by 2050 in the rest of the world. The Powering Past Coal Alliance (PPCA)
The TPI Tool An asset-owner led initiative which assesses companies’ preparedness for the transition to a net-zero economy. The TPI data also underpins the CA100+ Net Zero Company Benchmark. Transition Pathway Initiative (TPI) Listed equity
Inaugural 2025 Target Setting Protocol The inaugural protocol, published in final form (following a public consultation) in January 2021, sets out the Alliance’s four-pillar approach to target setting and reporting for the period 2020 to 2025. Net Zero Asset Owner Alliance Agnostic
Investor Climate Action Plans The Investor Climate Action Plans (ICAPs) Expectations Ladder and Guidance provide investors with clear expectations for issuing and implementing comprehensive climate action plans, including steps investors can take to support the goal of a net-zero emissions economy by 2050 or sooner. The Investor Agenda
The Net Zero Carbon Buildings Commitment This initiative was launched by the World Green Building Council (WorldGBC) to push for net zero carbon buildings around the world. By formalising their participation, businesses commit to having all their assets reach net zero carbon in operation by 2030, as well as advocating for net zero carbon buildings by 2050. World Green Buildings Council Real estate
CDP (Various frameworks) The project runs a global environmental disclosure system that allows companies, cities, states, regions and investors to report their environmental impact. CDP
GRESB (Various frameworks) GRESB assesses and benchmarks the Environmental, Social and Governance (ESG) and other related performance of real assets, providing standardised and validated data to the capital markets. GRESB: The global ESG benchmark for financial markets Real estate & Infrastructure
The PRI reporting and assessment framework PRI signatories are required to report on their responsible investment activities annually, using the PRI’s Reporting & Assessment Framework. This online tool comprises five overall modules, and six covering specific asset classes. Principles for Responsible Investment
Greenhouse Gas Protocol Standards (Various) GHG Protocol establishes comprehensive global standardized frameworks to measure and manage greenhouse gas (GHG) emissions from private and public sector operations, value chains and mitigation actions. Greenhouse Gas Protocol Agnostic
The Sustainable Development Goals (SDGs) The Sustainable Development Goals (SDGs) were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity. The 17 SDGs are integrated—they recognize that action in one area will affect outcomes in others, and that development must balance social, economic and environmental sustainability. United Nations Agnostic
ILPA ESG Assessment Framework ILPA's ESG Assessment Framework is designed to help limited partners evaluate and benchmark general partner (GP) responses to due diligence efforts, inform goal-setting conversations with GPs and measure ESG integration progress over time. Institutional Limited Partners Association (ILPA) Private equity
Climate Bonds Standard and Certification Scheme The Climate Bonds Standard and Certification Scheme is a labelling scheme for bonds and loans. Rigorous scientific criteria ensure that bonds and loans with Certification, are consistent with the 2 degrees Celsius warming limit in the Paris Agreement. The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change. Climate Bonds Initiative
CDSB Framework The CDSB Framework sets out an approach to reporting environmental information in mainstream reports. Companies reporting according to this TCFD-aligned framework provide investors with decision-useful environmental information. Climate Disclosure Standards Board
ESG indicators - Impact platform Impact is a service provided by the French Secretariat of State for the Social, Solidarity and Responsible Economy and the General Department of Companies. The platform includes a set of 47 ESG indicators which companies can choose to report against. Impact Platform (la plateforme Impact)

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