High-Level Plenary: Just report on emissions, or commit to Net Zero – what future for sovereign funds? followed by Closing Remarks

Oct 14, 2021 | 11:30 AM - 1:10 PM

Description

Sovereign wealth funds (SWF), representing USD 10 trillion assets, are absent from the United Nations-Convened Net Zero Asset Owner Alliance, which has 49 pension funds and insurance companies as members, representing USD 7.1 trillion in assets. Net zero initiatives are also in place in the asset management and banking industries. Sovereign funds have instead focused on strengthening their management of climate-related risk and investment opportunities arising from the low-carbon transition. Sovereign funds have also strengthened their climate-related reporting, and participate in international initiatives including CDP, TCFD, IIGCC, Transition Pathway Initiative, Sustainability Accounting Standards Board, and the One Planet Sovereign Wealth Funds Framework. Is this enough, or is Net Zero the way forward for sovereign funds? This High-level Plenary will be followed by Closing remarks by Ingrid Barnsley, Deputy Director, Environment Directorate, OECD and Hugh Wheelan, Co-founder and Joint Managing Director, Responsible Investor, part of PEI Media. Useful links: The Role of Sovereign and Strategic Investment Funds in the Low-carbon Transition (2021) - OECD Development Policy Tools Mighty Oaks from Little Acorns Grow: Sovereign Wealth Funds’ Progress on Climate Change (2021), report by the International Forum of Sovereign Wealth Funds (IFSWF) Where Are the Green Sovereign Funds? Project Syndicate 09.09.2021, by Håvard Halland and Günther Thallinger Norway’s Sovereign Duty. Project Syndicate 17.09.2021, by Christiana Figueres, Håvard Halland, and Knut Anton Mork