Some of the world’s largest sovereign wealth funds (SWFs) are expected to launch a plan to integrate climate change into their investments at a summit hosted by French President Emmanuel Macron and Norwegian Prime Minister Erna Solberg on 6 July. The SWFs for Abu Dhabi, Kuwait, New Zealand, Norway, Saudi Arabia and Qatar jointly manage $3tn. “Climate is one of our top investment priorities,” said Christine Lagarde, managing director of France’s central bank.
Some of the world’s largest sovereign wealth funds (SWFs) are expected to launch a plan to integrate climate change into their investments at a summit hosted by French President Emmanuel Macron and Norwegian Prime Minister Erna Solberg on 6 July. The SWFs for Abu Dhabi, Kuwait, New Zealand, Norway, Saudi Arabia and Qatar jointly manage $3tn. The framework is expected to recommend that SWFs should boost portfolio resilience by incorporating climate-change risks and opportunities into their strategies, report on their efforts to combat climate change, and encourage firms in which they invest to take action on environmental issues.