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.
Successfully addressing the climate crisis while strengthening energy security and economic resilience requires mobilizing capital at scale. Pleased to be in Abu Dhabi at the One Planet Sovereign Wealth Fund summit to engage the investor community on climate action. pic.twitter.com/1EJrkPuo1y
— Special Presidential Envoy John Kerry (@ClimateEnvoy) October 6, 2022