Set up in 2017, the One Planet Sovereign Wealth Funds initiative aims to accelerate the green transition towards cleaner energy as well as projects that can fight global warming much more effectively. OPSWF gathers sovereign wealth funds committed to integrating climate change issues into their investment processes and contributing to a smooth energy transition, which will result gradually in a more sustainable and low-carbon economy.
OPSWF members are guided by three principles:
1. Alignment: Build climate change considerations, which are aligned with the SWFs’ investment horizons, into decision-making;
2. Ownership: Encourage companies to address material climate change issues in their governance, business strategy and planning, risk management and public reporting to promote value creation.
3. Integration: Integrate the consideration of climate change-related risks and opportunities into investment management to improve the resilience of long-term investment portfolios.
Senegal is a coastal country with access to the Atlantic and has been experiencing for several years the effects of global warming across its territory, which has economic consequences on areas such as tourism, agriculture, energy. Senegal has ratified the Paris Agreement that underlays the creation of the OPSWF.
FONSIS has been committed to diversifying Senegal’s energy mix since its inception and as a result, its transactions has been able to secure up to 50% of the country’s solar energy production capacity.
In 2020, FONSIS decided to take greater account of climate change issues into its investment processes by joining OPSWF, alongside 34 major financial institutions including sovereign wealth funds such as ADIA and Mubadala (UAE), Bpi france (France), KIA (Kuwait), CDP Equity (Italy), NZSF (New Zealand), COFIDES (Spain), PIF (Arabia) Saudi), QIA (Qatar), ISIF (Ireland), NIIF (India), NIC NBK (Kazakhstan).
FONSIS thus confirms its commitment to pursuing its investment policy with a positive impact on people and to preserving environment for current and future generations. For
For further information, please go to: www.oneplanetswfs.org