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Sovereign Wealth Funds Invest In Climate Technology, Renewables
May 11 2021, 4:06 PM
May 11 2021, 1:30 PM
May 11 2021, 4:06 PM
(Bloomberg) Sovereign wealth funds are upping their investments in the energy transition.
(Bloomberg) Sovereign wealth funds are upping their investments in the energy transition.
The custodians of national wealth invested $2.3 billion in 2020 in sectors important to combating climate change, including forestry, renewable energy and so-called agritech, according to a report published Tuesday by the International Forum of Sovereign Wealth Funds, a network of sovereign funds from Abu Dhabi to Singapore. Thatâs more than double the $1.1 billion invested in 2019, IFSWF data show.
The transition to a low-carbon future is a necessity if the worst effects of global warming are to be avoided, and investors of all stripes are facing growing pressure to play their part in channeling the trillions of dollars of investment required to enable a shift away
Sovereign wealth funds doubled direct investments to $65.9b in 2020
Signage for Temasek Holdings Pte is displayed in the lobby at the company s headquarters in Singapore. Photographer: Bryan van der Beek/Bloomberg
May 11, 2021
Sovereign wealth funds’ direct investments almost doubled in 2020 to $65.9 billion, with a significant portion of that amount invested at home as funds sought to soften the hit to their economies from the COVID-19 crisis, according to a report published Tuesday.
For the first time, savings funds invested less than sovereign development funds and hybrid funds, according to the report from the International Forum of Sovereign Wealth Funds (IFSWF), based on publicly-disclosed direct investments.
2 Min Read
LONDON, May 11 (Reuters) - Sovereign wealth funds’ direct investments almost doubled in 2020 to $65.9 billion, with a significant portion of that amount invested at home as funds sought to soften the hit to their economies from the COVID-19 crisis, according to a report published Tuesday.
For the first time, savings funds invested less than sovereign development funds and hybrid funds, according to the report from the International Forum of Sovereign Wealth Funds (IFSWF), based on publicly-disclosed direct investments.
Savings funds usually have a remit to deliver long-term financial returns by investing in markets, while development funds are focused more on helping develop their local economies, and hybrid funds have more than one mandate.
Wealth funds up direct investments amid COVID-19 opportunities
Enrico Soddu
Sovereign wealth funds direct investments almost doubled in 2020 to $65.9 billion, as the COVID-19 crisis saw funds deploy huge amounts of dry powder.
Investments were composed of equity both public and private at $48.6 billion in 2020, up from $22.2 billion in 2019; $8.2 billion in infrastructure investments, up from $4.7 billion last year; and real estate, steady at $9.1 billion.
Sovereign wealth funds particularly those with a strategic or development mandate pushed their domestic agenda in 2020, with some producing COVID-19 vaccines and others supporting their local sectors such as retail or airlines, Enrico Soddu, head of data and analytics at the IFSWF, said on a call to discuss the review.