Madrid, the 2nd of November, 2021. COFIDES today took part in the annual meeting of the International Forum of Sovereign Wealth Funds (IFSWF), an organisation of which it has been a member since February 2020.

In an online event structured around four sessions, several members of the institute were able to share their views on the investment policy of sovereign wealth funds during the COVID-19 pandemic, with a special focus on climate change mitigation and adaptation projects, the role of Africa as an emerging recipient of funds and the importance of Environmental, Social and Corporate Governance (ESG) criteria.  

José Luis Curbelo, COFIDES Chairman and Spanish representative to the IFSWF, said that "at the annual meeting, the heads of the main sovereign wealth funds stressed that climate change, Africa and ESG criteria are still the key issues for international investment today, even in the context of uncertainty caused by the pandemic". He also underlined the importance of "communicating at all levels how responsible and sustainable investment, which integrates public-private partnerships, maximises our impact where it is most needed and helps us to build reliable investment ecosystems capable of becoming drivers of development".

Yolanda Gómez de Segura, deputy director of COFIDES' Investment Department, also highlighted the role of ESG indicators within the company: "social and environmental considerations are essential for us. In fact, it is the most important return we look at when assessing any investment".

ABOUT IFSWF

The International Forum of Sovereign Wealth Funds (IFSWF) is a voluntary organisation of global sovereign wealth funds committed to promoting good governance and investment management practices through dialogue, research and self-assessment. The IFSWF also seeks to promote a deeper understanding of sovereign wealth fund activity amongst government and financial services institutions. The Santiago Principles are a registered trademark of IFSWF Ltd.

ABOUT COFIDES

COFIDES, a State-owned company engaging in the management of State and third-party as well as its own funds, pursues a number of aims: internationalisation of Spain’s economy, furtherance of economic development and fortification of the solvency of companies affected by COVID-19. In addition to the Spanish State, its shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Development Bank of Latin America (CAF).