Final Press Release - One Planet Sovereign Wealth Funds · Initiative” to support the...

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AssetManagersEndorsetheOnePlanetSWFFrameworkEightleadingAssetManagersendosetheOnePlanetSWFFrameworkandannouncethe

formationoftheOnePlanetAssetManagersInitiativeWednesday10 July2019,Paris, France–Witha combined$15 trillionof assetsundermanagement,eightglobalassetmanagersannouncedtodaythattheyhavefoundedthe“OnePlanetAssetManagersInitiative” to support the implementationof theOnePlanet SovereignWealth FundFramework (“theFramework”).Together,theassetmanagershavecommittedtofurthertheobjectivessetout intheFrameworkandadvance the understanding of the implications of climate-related risks and opportunitieswithin long-terminvestmentportfolios.Thiswill involvesharinginvestmentpractices,publishingrelevantresearchandengagingwithotherkeyactors,includingstandardsetters,regulatorsandthebroaderindustry.The Founding Members of the One Planet Asset Managers Initiative are: Amundi, BlackRock, BNPParibas Asset Management, Goldman Sachs Asset Management, HSBC Global Asset Management,NatixisInvestmentManagers,NorthernTrustAssetManagement,andStateStreetGlobalAdvisors.The announcement was made at an event hosted by President Emmanuel Macron of France at theÉlyséePalaceinParis,whichwasattendedbytheleadersoftheOnePlanetSWFWorkingGroupandtheOnePlanetAssetManagersInitiative.Itprovidesasignificantmessagetomarketsthatinvestorsexpectcompaniestomanageclimaterisks.ThefoundingmembersoftheOnePlanetSWFWorkingGroupsaid:“We are pleased that the framework has been endorsed by this important group of global assetmanagersandbelievethiswillplayakeyroleinsupportingthetransitionof largeassetpoolstowardstheactiveconsiderationofclimaterisksandopportunities.WewillreconveneinSeptember2019attheUNClimateSummitinNewYorkCitytoprovideanupdateontheprogressinourrespectiveclimaterelatedworkandinitiativesThefullstatementbytheOnePlanetAssetManagerscanbeviewedhere.OnePlanetSovereignWealthFundWorkingGroupTheOnePlanetAssetManagersInitiativeannouncedtodayfollowsprogressmadeoverthepastyearbythe six founding members of the One Planet SWF Group in following up the expectations in theFramework,andexchangingexperiencesandemergingpractices.

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Overthepastyear,theOnePlanetSWFGrouphasheldseveraleventstosharetheirexperiences,andhavealsoengagedonamonthlybasistoshareexistingandemergingpracticesrelatingtotheuseoftheFramework.TheOnePlanetSWFGroupmembershaveengagedacrossthe investmentchaintobetterunderstandthebarriersandopportunitiesinusingtheFramework.Theyhavealsoonanindividualbasisinteractedwith university researchers, standard setters, data providers and benchmarking agencies, as well asothersovereignwealthfundsglobally.Atthe10thInternationalForumofSovereignWealthFunds(“IFSWF”)AnnualMeetinginMarrakech,theFrameworkandtheeffortsoftheOnePlanetSWFGroupwerepresentedtoabroadgroupofsovereignwealth funds. IFSWFmembershadbeensurveyedabouttheirviewsonclimatechangerelated issues.There has also been significant interest from a number of SWFs about potentially endorsing theframework.LookingaheadThemembers of One Planet SWF Groupwelcome the One Planet AssetManagers Initiative and themembers’endorsementoftheframework.ThememberslookforwardtotheincreasedadoptionoftheFrameworkthroughthisinitiative.Thememberswill take stockof thework that hasbeendoneat ameetingwithPresidentMacron inSeptember2019.ThismeetingwilltakeplaceduringtheUNClimateSummitinNewYork.

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NotestoEditors:OnePlanetSWFInvestmentFrameworkIn July 2018, the founding members of the One Planet Sovereign Wealth Fund Working Group(consistingofsixsovereignwealthfundswithover$3trillionofassetsunderownership),publishedtheOnePlanetSovereignWealthFundFrameworksettingoutthreeprinciplestoacceleratetheintegrationofclimatechangeanalysisintothemanagementoflarge,long-termanddiversifiedassetpools.TheobjectiveoftheFrameworkistopromotetheintegrationofclimatechangeanalysisinthemanagementoflarge,long-termanddiversifiedassetpools.Buildingoncurrentindustrybestpractice,theFrameworkaimstofosterasharedunderstandingamonglong-termassetownerswithregardtokeyprinciples,aswellasmethodologies,andindicatorsrelatedtoclimateissues.Italsoaimstoidentifyclimate-relatedrisksandopportunitiesintheirinvestmentsandenhancetheirinvestmentdecision-makingframeworkstobetterinformSWFs’prioritiesasinvestorsandparticipantsinfinancialmarkets.TheOnePlanetSovereignWealthFundFrameworksettingoutthreeprinciplestoacceleratetheintegrationofclimatechangeanalysisintothemanagementoflarge,long-termanddiversifiedassetpools.

• Principle1:Alignment-Buildclimatechangeconsiderations,whicharealignedwiththeSWFs’investmenthorizons,intodecision-making.

• Principle 2: Ownership- Encourage companies to address material climate change issues intheir governance, business strategy and planning, risk management and public reporting topromotevaluecreation.

• Principle 3: Integration- Integrate the consideration of climate change-related risks andopportunities into investmentmanagement to improvetheresilienceof long-term investmentportfolios

Theframeworkisvoluntaryandnon-binding.Eachfundshouldconsiderhowitcanbealignedwiththespecificmandates,objectiveandregulationsforeachfund.TheInvestmentFrameworkcanbeviewedhere:www.oneplanetswfs.org

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OnePlanetSWFWorkingGroupMembers

ABUDHABIINVESTMENTAUTHORITY

Established in 1976, ADIA is a globally-diversified investment institution that prudently invests funds onbehalfoftheGovernmentofAbuDhabithroughastrategyfocusedonlong-termvaluecreation.

Formoreinformationvisitwww.adia.ae

KUWAITINVESTMENTAUTHORITY

TheKuwait InvestmentAuthority (KIA) is theoldestwealth fund in theworld.KIA traces its roots to theKuwaitInvestmentBoardinLondon,whichwasestablishedin1953.

KIA’smissionistoachievealong-terminvestmentreturnonthefinancialreservesentrustedbytheStateofKuwaittotheKuwaitInvestmentAuthoritybyprovidingalternativetooilreserves.KIAisresponsibleforthemanagementandadministrationofKuwait’sGeneralReserveFund(GRF)anditsFutureGenerationsFund(FGF),aswellasother fundsentrusted to itby theMinisterofFinance forandonbehalfof theStateofKuwait.

Formoreinformationvisitwww.kia.gov.kw

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NZSUPERFUNDTheNZ$39bNZSuperFundisaglobalinvestmentfundestablishedbytheNewZealandGovernmenttohelppre-funduniversalpensions, forwhichallNewZealandersareeligible fromage65.A long-term,growth-orientedinvestor,theFundhasreturned10%perannumsinceinceptionin2003.

Formoreinformationvisitwww.nzsuperfund.co.nz

NORGESBANKINVESTMENTMANAGEMENTNorges Bank Investment Management manages the Government Pension Fund Global on behalf of theMinistryofFinance,whichownsthefundonbehalfoftheNorwegianpeople.

Formoreinformationvisitwww.nbim.no

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PUBLICINVESTMENTFUNDOFTHEKINGDOMOFSAUDIARABIAThe Public Investment Fund (PIF) seeks to become one of the largest andmost impactful sovereignwealth funds in theworld,enabling thecreationofnewsectorsandopportunities thatwill shape thefutureglobaleconomy,whiledrivingtheeconomictransformationoftheKingdomofSaudiArabia.

Toachievethis,PIFisbuildingaworld-class,diversifiedportfoliothroughinvestmentsinattractive,long-term opportunities across sectors and asset classes at both the domestic and international level.Working alongside global strategic partners and renowned investment managers, PIF acts as theKingdomof Saudi Arabia’smain investment arm to deliver a strategy focused on achieving attractivefinancialreturnsandlong-termvaluefortheKingdomofSaudiArabia,inlinewithVision2030.

Formoreinformationvisitwww.pif.gov.sa.

QATARINVESTMENTAUTHORITY

QIAwasfoundedbytheStateofQatarin2005tostrengthenthecountry’seconomybydiversifyingintonewassetclasses.BuildingontheheritageofQatarinvestmentsdatingbackmorethanthreedecades,its growing portfolio of long-term strategic investments help complement the state’s hugewealth innaturalresources.

Qatar’sgoalistobecomeamajorinternationalcenterforfinanceandinvestmentmanagement,avisionsharedbyitsgovernment,peopleandinstitutions.

HeadquarteredinDoha,QIAisstructuredtooperateattheveryhighestlevelsofglobalinvesting.Asaworld class investor,QIA adheres to the strictest financial and commercial disciplines. It has a strongtrackrecordofinvestingindifferentassetclasses,includinglistedsecurities,property,alternativeassetsandprivateequityinallthemajorcapitalmarketsaswellastheneweremergingmarkets.

Formoreinformationvisitwww.qia.qa