UAE’s Mubadala joins coalition of sovereign wealth funds supporting global climate action

UAE’s Mubadala joins coalition of sovereign wealth funds supporting global climate action

Mubadala Investment Company has announced that it has officially become a member of the One Planet Sovereign Wealth Funds (OPSWF) initiative.

The initiative is an international coalition of sovereign wealth funds (SWFs) established to integrate climate change considerations into their decision making and support global climate action.

Mubadala will leverage its scale and global presence to drive positive change through the endorsement of the OPSWF Framework to reduce greenhouse gas emissions, mitigate the effects of climate change and create sustainable market outcomes, confirmed official news agency WAM.

Its membership was announced during the virtual OPSWF CEO Summit, attended by SWF members in the presence of French President Emmanuel Macron.

Mubadala has also become a full member of the International Forum of Sovereign Wealth Funds (IFSWF).

The IFSWF is a voluntary organisation of global sovereign wealth funds committed to working together to strengthen the sovereign wealth fund community through defining best practices, dialogue, research, and self-assessment.

IFSWF includes a group of almost 40 members from around the world with a variety of mandates.

The IFSWF encourages its members to adhere to and uphold the Santiago Principles , which consist of 24 generally accepted principles and practices designed to promote a more open dialogue and deeper understanding of