As COP28, the annual event that represents an important gathering of world leaders to discuss a range of issues key to tackling the climate emergency, comes to an end we’re taking the opportunity to reflect on how we can use our role as responsible investors to support the global mission of reducing carbon emissions.

This year’s event represents the 28th annual United Nations (UN) climate meeting, and was held in Dubai from 30th November to the 12th December. COP28 focused on four themes to enable delivery of key initiatives that support global decarbonisation goals:

• Fast-tracking the energy transition and slashing emissions before 2030
• Transforming climate finance, by delivering on old promises and setting the framework for a new deal on finance
• Putting nature, people, lives, and livelihoods at the heart of climate action
• Striving to make COP28 the most inclusive COP to date

The initiative is designed to unite businesses, communities and governments to improve resilience and mobilise efforts to deliver the collective commitments made to protect the planet.

The impact of the climate emergency on businesses should not be underestimated. If we don’t work together to reduce carbon emissions, businesses will face even more disruption to supply chains and operations, increased regulations and going forwards additional costs. Therefore, businesses that don’t take responsibility for their emissions are likely to limit long-term growth.

At NorthEdge, and across our portfolio, we are continuing to take steps to ensure we take responsibility for improving our impact on people, the planet and the communities we operate within, including:

• Transparently reporting and setting targets to support the net zero ambitions of our business and portfolio
• Completing annual portfolio ESG assessments and hosting forums with key leaders in across the portfolio
• Targeting all portfolio companies where we are the lead investor to have a finalised net zero plan by the end of 2024
• Becoming the first private equity firm globally to achieve Gold Carbon Literate Organisation status from the Carbon Literacy Project
• Linking ESG progress to remuneration – ensuring appropriate management of sustainability risks and opportunities
• Undertaking a procurement audit and creating supplier improvement plans
• Introducing an electric car vehicle scheme to reduce the carbon footprint of our business travel

We are committed to ensuring every investment we make has a positive impact. Given our role as investors, we are uniquely positioned to drive material change and support the achievement of a net zero economy, mitigating the effects of the climate crisis, through the influence we have in our portfolio and wider network. We do this because it is the right thing to do, and because we believe this is a fundamental component of building better businesses that generate strong returns for all of our stakeholders.

To read more about our commitment to reducing our impact on the planet, read our Net Zero Plan here.