SWFs Adopt Positions on Climate Data, Hydrogen, EM Renewables

The One Planet Sovereign Wealth Funds (OPSWF) Network, which consists of 45 sovereign wealth funds and other institutional investors with US$37 trillion AUM, has issued guidance on climate data, clean hydrogen and renewables in emerging markets. According to one of the three workstreams discussed at their meeting in Abu Dhabi, a “significant majority” of private markets are not disclosing climate-related data, prompting OPSWF to publish new disclosure guidance. Members have also published an executive brief highlighting demand-side stimuli, measures to facilitate international trade, and contracts-for-difference as three priority enablers for accelerating investment in clean hydrogen. Finally, OPSWF members acknowledged that, while investing in renewable energy in emerging markets and developing economies is a massive opportunity from “the triple perspective of impact, risk and return”, reducing emissions in these countries while simultaneously meeting rising energy demand will require a significant scaling up of private sector engagement and investment. The network has now been established as a permanent establishment. Separately, Saudi Arabia’s Public Investment Fund (PIF) made its green bond debut on the London Stock Exchange, offering US$500 million worth of 100-year notes, US$1.25 billion in five-year bonds, and US$1.25 billion in 10-year bonds. PIF has pledged to invest more than US$10 billion by 2026 in eligible green projects, such as clean transport and sustainable water management.

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