With US$10 trillion in combined assets – many of which are highly polluting – the world’s sovereign wealth funds have been accused of lagging behind the rest of their financial sector in terms of their climate change commitments. What can be done to change the status quo?
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Obi Emetarom is an ambitious man. He wants his fintech company Appzone to be at the heart of African banking and payments with its proprietary cloud and blockchain based technology, and, after raising US$10mn in series A funding earlier this year, he is building the team to do it.
Italian energy company Enel sold a multibillion-dollar sustainability-linked bond at the start of July, as the nascent deal structure, which sees a coupon step up on missed ESG targets, continues to gain global popularity.
The pandemic served as a catalyst for changes that were already underway, not least greater digitisation and better non-financial risk management.
Sir Paul Collier has been working in Africa for four decades and is one of the world’s leading voices on the economies of the region. He tells EMEA Finance that, while the pandemic has ravaged the continent, there are clear signs of hope for sustainable economic growth.
The Brexit deal has posed challenges for London-based financial services firms, which look set to lose some of their EU business as a result.
Countries like Nigeria, Türkiye, South Africa and the UAE are seeing considerable growth within the crypto space, pointing to a promising future for digital currencies.
Many developing markets have seen an uptick in their ratings this year, as they start to reap the benefits of lower interest rates and policy reforms.
The Moody’s rating is a milestone for the climate-oriented fund, which has been active in emerging markets since 2009. So what will GCPF be turning its attention to next?
Abound, the British fintech, announces a £800mn fundraise that allows it to reach more consumers and help them to access loans and save money through the firm’s use of artificial intelligence and open banking data.