The Minister for Climate Change has congratulated the One Planet Sovereign Wealth Fund Group for its new Framework offering guidance on long-term investment and asset ownership in relation to climate change.
"The publication of this Framework is important to promote consideration and understanding of climate change issues in the management of large, long-term asset portfolios controlled by sovereign wealth funds, like the New Zealand Superannuation Fund," says James Shaw.
"I congratulate those agencies, including our Super Fund, who make up the One Planet Sovereign Wealth Fund (SWF) Group, which has spent six months putting together this Framework.
"Sovereign wealth funds, like the NZ Super Fund, have the size, scale, capacity and long-term investment vision that puts them in a unique position to promote the kind of asset and infrastructure decisions which can influence global sustainability and climate change adaptation well into the future," Mr Shaw said.
Together the members of the SWF Group manage over $3 trillion in assets.
President Macron launched One Planet in December last year, two years to the day after the Paris Agreement was signed.
The six founding members of the One Planet SWF Group are:
• The New Zealand Superannuation Fund
•Abu Dhabi Investment Authority
• Kuwait Investment Authority
• Norges Bank Investment Management of Norway
• The Public Investment Fund of the Kingdom of Saudi Arabia
• Qatar Investment Authority