Sovereign wealth funds in new climate initiative

A working group of representatives from a number of sovereign wealth funds has been established at the One Planet Summit in Paris. The group will look into what investors can do to address the financial risks posed by climate change. The Government Pension Fund Global (GPFG) will take part in the working group.

'Norway welcomes this initiative, which creates a forum for exchanging experience in this important area. Long-term investors should take climate-related risks into consideration. The GPFG has been working for some time to enhance knowledge and reporting of such risks. The GPFG’s main objective, namely to secure the highest possible returns at an acceptable level of risk, remains unchanged,’ said Prime Minister Erna Solberg.

The One Planet Summit in Paris is being co-hosted by French President Emmanuel Macron, UN Secretary-General António Guterres and World Bank Group President Jim Yong Kim.