National investment corporation of the National Bank of Kazakhstan participated at the 3rd Annual One Planet Sovereign Wealth Funds Summit that was held virtually in Paris on November 20th 2020. President of France Emmanuel Macron and 33 CEOs of the world’s largest institutional investors participated in the event to address actions towards climate related issues.
At the summit, President Emmanuel Macron and attendees discussed topics on strengthening the responsible investment policies and increasing corporate engagement on climate-related financial disclosures. The CEOs and the President also discussed the urge for a sustainable recovery from Covid-19 and the need for additional investments in renewable energy and climate-related solutions.
The main result of the Summit is commitment of CEOs of sovereign wealth funds and asset managers to the Statements of Support to drive the Task Force for Climate-Related Financial Disclosures (TCFD) and align their reporting to the TCFD recommendations.
The One Planet Sovereign Wealth Funds initiative was established in December 2017 by the Six Founding Members.
Since the Framework was launched in 2018, the initiative has grown in the past two years from six founding members with $3 trillion of assets to thirty-three members with over $30 trillion of assets. The key purpose of this initiative is to accelerate the integration of climate change analysis into the investment decision making process of large, long-term and diversified asset pools. In order to fulfill the goal of the initiative members endorse three principles of the One Planet Sovereign Wealth Funds Framework: alignment, ownership and integration.
National Investment Corporation of the National Bank of Kazakhstan JSC has joined the One Planet Sovereign Wealth Funds initiative in June 2020.