FGIS Statement on Climate Strategy

The Gabonese sovereign wealth fund (FSRG) represented by FGIS has adhered to reaching carbon neutrality by 2050 and undertake a sustainable investment strategy starting in 2023. FGIS has joined the UN-convened Net-Zero Asset Owner Alliance, an initiative of like-minded institutional investors committed to aligning financial flows with climate goals.

Portfolio decarbonization: 

FGIS recognizes that greenhouse gas emissions present a major climate-related financial risk to many investments, their reduction is also expected to be beneficial for the long-term returns, and to lower downside risks.

As per the assessment performed in 2022 by an independent third-party, the Gabonese sovereign wealth fund (SWF) shows a very insignificant carbon footprint intensity to date (below 500k tco2). FGIS commits to remain below that threshold and to try its best to further reduce its carbon exposure (using the Weighted Average Carbon Effcate aticiency metric) in the private equity sub-portfolio by at least 5% compared to base year 2021.

Engagement with portfolio companies : 

FGIS commits to focus on the private equity portfolio’s 20% highest carbon equivalent emitters and encourages them to take action to meet the net-zero ambition, through engagement initiatives.

In addition to that, FGIS will seek open climate-related dialogues with at least 50% of companies under direct management and implement a policy of engagement with the top c.

Climate or Nature-Based Solutions : 

FGIS supports the Gabonese government in their ambition to create an economy from natural capital to preserve it better. FGIS seeks to enable that by allocating more funds to economic activities that provide climate ornature-based solutions (renewable energy, energy efficiency, nature preservation etc.).  

By 2030, FGIS aspire to :

·      Dedicate at least 50% of new investments to Climate or Nature-Based Solutions and renewable energy.

·      Allocate 15% of infrastructure investments to renewable energy or green infrastructures.

·       Have 50% of total assets invested in transition or climate-friendly.

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Transparency

The Gabonese SWF will publish key climate metrics of its portfolio on its public website, including a measure of the “climate alignment” of relevant asset classes. The Fund will also report on its progress to net zero to theUN-convened Net-Zero Asset Owner Alliance.

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