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AIG Global Investment Group Joins Investor network on Climate Risk
BOSTON - AIG Global Investment Group (AIGGIG) has joined the Ceres-coordinated Investor Network on Climate Risk (INCR), a network of institutional investors and financial institutions focused on the financial risks and investment opportunities posed by climate change.

AIGGIG is ranked sixth largest institutional asset manager by Pensions & Investments with more than $500 billion in assets under management, and is the first asset management division of an insurance company to join INCR, which now includes more than 50 investment organizations that collectively manage nearly $4 trillion in assets. INCR was launched in fall 2003 with 10 investors managing $600 billion in assets.

"AIG Global Investment Group's decision to join INCR is a telling sign of growing investor concern about climate change and its far-reaching consequences for businesses and investors," said Mindy S. Lubber, president of Ceres and director of INCR. "Whether from extreme weather events, regulatory changes or growing demand for renewable energy, climate change is a serious business issue that all investors should be focusing on. Today's announcement is a big step forward for INCR, which will benefit enormously from AIGGIG's investment expertise, resources and prominence in the asset management industry."

Today's announcement comes five months after AIG established its Office of Environment and Climate Change and became the first U.S. insurance company to adopt a corporate climate change policy. The policy commits the company to actively seek ways "to incorporate environmental and climate change considerations across its businesses, focusing on the development of products and services to help AIG and its clients respond to the worldwide drive to cut greenhouse gas emissions."

"AIG Global Investment Group believes that, as an investor, we must actively manage the risks and opportunities related to environmental, social and ethical trends," said AIG Global Investment Group Chairman and Chief Executive Officer Win Neuger. "An alignment of interests between ourselves, our clients and the world around us enables us to achieve strong investment returns and enhance our own profitability, while also trying to keep our environment intact."

INCR was formally launched in November 2003 at the Institutional Investor Summit on Climate Risk at the United Nations in New York. Last year, its members organized a second investor summit at the UN that attracted 500 corporate, financial and investor leaders from 14 countries. The groundbreaking meeting included 28 U.S. and European investors approving a 10-point action plan seeking greater analysis, disclosure and action from companies, Wall Street and regulators on climate change. Many of those action steps have already been implemented, including INCR members investing more than $1 billion in clean technologies and final approval last week of a global framework for improving corporate disclosure on the financial risks businesses face from climate change. For more information, visit http://www.incr.com or http://www.ceres.org

AIG Global Investment Group comprises a group of international companies, which provide investment advice and market asset management products and services to clients around the world. AIGGIG is a worldwide leader in asset management, with extensive capabilities in equity, fixed income, hedge funds, private equity and real estate. AIGGIG manages nearly $540 billion in assets and employs more than 1,800 professionals in 44 offices around the world as of June 30, 2006. Total assets under management include about US $450 billion of AIG affiliated assets.



Contact:
Peyton Fleming
Ceres
617-247-0700 xt. 20
fleming@ceres.org