Skip to content
Green
Finance

Funds Holding $10 Trillion Are Told Their ESG Goals Fall Short

  • Ex-UN climate boss says SWFs too focused on return strategies
  • Warning comes after IPCC exposed dangerous pace of overheating
Christiana Figueres
Christiana FigueresPhotographer: Andrew Harrer/Bloomberg

The world’s sovereign wealth funds, representing about $10 trillion in combined assets, will end on the wrong side of history if they cling on to strategies that fail to acknowledge how rapidly the planet is overheating, according to the woman who presided over the Paris Agreement.

Christiana Figueres, the former executive secretary of the United Nations Framework Convention on Climate Change, says wealth funds need to update their strategies and stop just looking for ways to “take advantage” of the increase in global temperatures for economic gain.