In 2018, the six founding members of One Planet Sovereign Wealth Funds(OPSWF) published a voluntary framework outlining principles for sovereign wealth funds (SWFs) to systematically integrate climate change into their decision-making and set about to support global climate action collectively.
This was the first strategic framework for SWFs on climate change and remains a seminal document that underpins the ambition and action of the OPSWF members and the priorities of the initiative going forward. It builds on the best practices of the international financial community. It simplifies the complexities of climate change to present a compelling action-oriented framework for SWFs to protect long-run returns and contribute to the smooth transition towards a net-zero economy.
The Framework has been developed to accommodate countries at different levels of economic development. It is implemented subject to domestic provisions, legal and regulatory requirements, and the SWFs’ specific mandates.
The rapid expansion of the OPSWF network has occurred in the past year, with the number of financial institutions supporting the goals and principles of the OPSWF Framework growing from 14 institutions (six SWFs and eight asset managers) at the 2nd Annual Summit in 2019 to 33 institutions by the 3rd Annual Summit in 2020.
To demonstrate Mubadala’s long-term commitment to ESG and responsible investing, we became a member of the OPSWF initiative in October 2020.
Through the new membership, we are leveraging our global presence to drive positive change through the endorsement of the OPSWF Framework to reduce greenhouse gas emissions, mitigate the effects of climate change and create sustainable market outcomes.
Khaldoon Khalifa Al Mubarak
Managing Director & Group CEO
As a responsible investor managing a global portfolio, our membership of both the OPSWF and the IFSWF demonstrates our commitment to integrating environmental, social and governance (ESG) considerations when making investment decisions and as part of the overall management of our portfolio. It is also an opportunity for us to collaborate and align with other sovereign wealth funds and reinforce our commitment to climate change, good governance, accountability and transparency.