Geneva, Switzerland, June 27, 2022 – In line with its commitment to sustainability, the Gabonese Strategic Investment Fund (FGIS) has become the first African sovereign wealth fund to join the Net-Zero Asset Owner Alliance, created by the United Nations. With nearly $2 billion in assets under management, FGIS aims to achieve net-zero greenhouse gas emissions from its portfolio by 2050, set interim targets every five years, and submit an annual monitoring report.
The Net Zero Asset Owner Alliance, formed in September 2019 at the United Nations Climate Action Summit, is an international group of investors committed to achieving the transition of their investment portfolios to carbon neutrality by 2050.
As part of the Paris Agreement, Net Zero Asset Owner Alliance signatories established national commitments (NDCs) and committed to submit a new (more ambitious) set of national commitments every five years. By joining the Alliance, FGIS will benefit from the Alliance’s guidance and tools to set and achieve its commitments and thus support Gabon’s transition to a zero-carbon goal.
The Gabonese Strategic Investment Fund has made a decisive commitment to decarbonization at all levels of the economy through this new collaboration, in line with the Transformation Acceleration Plan (PAT) set by the President of the Republic, His Excellency Ali BONGO ONDIMBA.
Akim Mohamed Daouda, Managing Director of FGIS, said: “As a country with 88% of its territory covered by forests, Gabon is a carbon sink. Reducing emissions in pursuit of a zero-carbon goal is therefore a guiding principle of FGIS’ activities. Our membership in the Net-Zero Asset Owner Alliance is part of this commitment, as well as our desire to further promote green investments in Gabon.”
Günther Thallinger, Allianz SE board member and chairman of the Net-Zero Asset Owner Alliance, said, “The Gabonese Strategic Investment Fund’s membership in the Net-Zero Asset Owner Alliance will undoubtedly support the country’s transition to the implementation of the Paris Agreement commitments. The Alliance is particularly excited to welcome an African sovereign wealth fund and looks forward to working together to scale up blended finance for climate solutions. We invite other sovereign wealth funds to take the same step.”