Date: 4 December 2023
Time: 12:15 – 13:00 GST
Location: Green zone; Mubadala Pavilion, COP28, Dubai, UAE
Description:
Financing the UN Sustainable Development Goals (SDGs) is one of the main priorities for the international community. However, concerns are spreading that funding is insufficient to support the massive effort required. As every actor must take responsibility for accelerating the SDG, the role and leadership of Sovereign Wealth Funds (SWF) demands analysis and review.
Well-managed SWFs can support delivery of the SDGs and broadening the mandate of SWFs to include sustainable investing is an essential lever to close the financing gaps to reach the SDGs. The long-term investment mission of SWFs eases the approximation of long-term problems that can be solved through SDG Impact projects.
An alliance established between IE University, the UN Joint SDG Fund (a UN flagship global fund that is supercharging the United Nations Development System around the world), and the International Forum of Sovereign Wealth Funds launched an Initiative to connect SWFs with SDG Impact Investing. The Initiative is focused first on African SWFs but plans to expand to other regions in the future. The Initiative is launching the Second SWF SDG Conference during COP28 in Dubai. It represents a milestone to announce the first cohort of SDG Investment Council members. This Second SWF SDG Conference is built on the success of the COP27 Event in Sharm El-Sheikh back in November 2022, that gathered SWFs (Egypt, Morocco, Spain), global investors (BNP Paribas) and philanthropists, along with the Minister of Planning and Economic Development in Egypt.
Discover full list of UNEP activities at COP28.
