Korea Investment Corporation (KIC) confirmed that it has joined the One Planet Sovereign Wealth Fund (OPSFW), the world’s largest sovereign wealth fund consultative body.
KIC was approved for membership at a video conference during the annual meeting of the OPSWF, presided over by French President Emmanuel Macron in Paris on Saturday (November 21), South Korea’s sovereign wealth fund said on Sunday (November 22).
The OPSWF was launched by global sovereign wealth funds in December 2017 to support the goals set out in the Paris climate agreement and as a linkage to the financial industry.
Sovereign wealth funds from a number of major countries, including Norway, France, Italy, Spain and India, are participating in the OPSWF, whose total funds amount to $30 trillion.
In joining the OPSWF, the KIC will actively participate in discussions on climate change.
“Financial information on climate change has become the most important indicator in the investment decision process due to the recent increase in abnormal weather conditions worldwide,” said Choi Hee-nam, president of the KIC. “We will proactively respond to investment risks related to climate change and actively exercise leadership for sustainable growth in the financial market.” (Reporting by Kyoungho Lee)