Sustainable finance
Sovereign Wealth Fund (SWF)
State-owned investment funds — including the world's largest investors — increasingly pressed to align with sustainability and stewardship goals.
Definition
A sovereign wealth fund is a state-owned investment fund, typically capitalised by commodity revenues (oil and gas funds such as Norway's NBIM, the world's largest), foreign exchange reserves or fiscal surpluses, investing for intergenerational savings, stabilisation or development. SWFs collectively manage several trillion dollars; their stewardship choices — Norway's exclusion of coal companies and active ESG voting being the benchmark — move markets given their scale.
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