The Sovereign Impact Initiative at COP29 in Baku

On November 12, the Center for the Governance of Change at IE University and the United Nations Joint SDG Fund co-hosted the third annual UN side event at COP, titled "Sovereign Wealth Impact: Powering Finance for the SDGs". Irene Blázquez Navarro and Drew Johnson presented key progress on our flagship Sovereign Impact Initiative (SII), which is working with African sovereign wealth funds to invest in the UN SDGs. The experienced panel was moderated by Gilbert Nyatanyi, former CEO of Rwanda’s Agaciro Development Fund and Advisory Board member of the SII, and included the following senior leaders:
 

Nana Skari Maidugu, Head of Sustainability and ESG, NSIA: Nigeria Sovereign Investment Authority

Babacar Gning, CEO, FONSIS - Fonds Souverain du Sénégal

Demba Diallo, Managing Director and Head of Project Development, Africa50 Group

Omon Ukpoma-Olaiya, Investment Officer, United Nations Capital Development Fund (UNCDF)

Rafael Matos Martinón, Head of Sustainability and Impact, COFIDES

On November 13, the SII hosted a private roundtable at Climate Action's Sustainable Innovation Forum, titled "Aligning for Impact - Sustainable Finance Partnerships in the Global North and South". The discussion, facilitated by Drew Johnson, brought together C-level executives and senior leaders in sustainability from S&P Global, BlackRock, Deutsche Bank, FEMA, Africa50 Group, IFSWF (International Forum of Sovereign Wealth Funds), World Benchmarking Alliance, COFIDES, The Rockefeller Foundation, United Nations Capital Development Fund (UNCDF), Casa Socio-Environmental Fund, EU-AFRICA Chamber of Commerce, Impact Dynamix, Back2nature.eco, and McLarty Associates.
 
The discussion focused on strategies for mobilizing public and private capital for SDG-aligned investments in emerging markets. It included diverse perspectives from investors, civil society and philanthropy and stressed the importance of alliances in sustainable finance between the Global North and South.