Gabon: FGIS joins the Net-Zero Asset Owner Alliance

After its active participation in the creation of the first platform of African Sovereign Wealth Funds (ASIF), the Gabonese Sovereign Wealth Fund (FGIS) has once again distinguished itself internationally. Indeed, this entity became the first African sovereign wealth fund to join the Net-zero Asset Owner Alliance, an international group of investors created by the United Nations and committed to the transition of their investment portfolios to carbon neutrality by 2050.

Indeed, the accession of this key player in the transformation of the Gabonese economy is a real boon for this entity. It will allow it to benefit from the advice and tools of this international group, to set and achieve its commitments and support Gabon's transition to a zero-carbon objective.

It should be noted that with $2 billion in assets under management, the FGIS aims to achieve net-zero greenhouse gas emissions on its portfolio by 2050, set interim targets every five years and present an annual monitoring report. Objectives in line with national commitments (NDCs), signed by the members of the alliance as part of the Paris agreements.

This new collaboration is undoubtedly a decisive step for the FGIS, in favor of decarbonization at all levels of the economy, in line with the Transformation Acceleration Plan (PAT) set by the President of the Republic Ali Bongo Ondimba. "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," said Akim Mohamed Daouda, Chief Executive Officer of FGIS.

For his part, the Chairman of the Net-Zero Asset Owner Alliance, and member of the Board of Directors of Allianz SE, Günther Thallinger welcomed this membership, which according should support "the country's  transition towards the implementation of the commitments of the Paris Agreement".