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Promoting investments that combat climate change through ‘green’ technologies and enhanced economic sustainability is increasingly important for public and private sector asset managers. Higher real returns from such investments can mitigate the effect of low and negative interest rates.
Report
Global Public Investors – central banks, sovereign funds and public pension funds with investable assets of $33.8tn or 45% of world GDP – are a worldwide force in politics as well as economics. Their performance, behaviour and asset allocation moves have widespread international repercussions. The launch of the 2017 research took place in London on 14 June.
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Lower commodity and energy prices, tighter financing conditions and protectionism in world trade have spelled bad news for emerging market economies. But the tide may be turning as world growth improves and markets react to better management in key countries.
OMFIF Conversation
Britain’s exit from the European Union, under procedures launched by the 29 March delivery of the Article 50 withdrawal letter, marks a turning point for the UK and the continent – a drawn-out process affecting the Old Continent’s internal and external cohesion and sending reverberations throughout the world.
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The US under Donald Trump will have a decisive effect on a possible new world order in which nation states move to the forefront and international co-operation becomes less important. China’s influence, too, will be of paramount importance. These themes dominate the global agenda for growth and security.
Read moreWhile much of the world economy appears to be on the mend, South Africa is in trouble. Per capita income is declining and the economy is in recession for the second time in eight years. To restore investor confidence, Finance Minister Malusi Gigaba should consider calling in the IMF, writes Desmond Lachman.
The European experiment is under pressure, tested by the rise of nationalist politics. But for Asean, the EU still serves as an example of what might one day be possible, even if they have not tread identical paths towards union. The diversity of economies in Asia has meant embracing flexibility over rigidity.
Military spending is rising in many parts of the world, notably Asia and the Middle East. China’s outlay is estimated to have gone up by 120% since 2007. Small countries, too, are more focused on military issues. This signal about the changing global environment should be taken seriously, writes David Skilling.
Citizens have a key role to play in improving African leadership, writes Kingsley Moghalu. As Ameena Gurib-Fakim, the president of Mauritius, has said, the onus is on Africans: 'People have to start asking the right questions. Politicians, leaders, policy-makers in normal democracies are all accountable to the people.'
Of the many claims about Britain’s exit from the European Union, the most odd is that leaving the EU customs union opens the door to a massive expansion of exports, writes Denis MacShane. This is an illusion and the UK should tell the EU now that leaving the customs union is not a priority.
A new OMFIF report, 'Green finance for Global Public Investors', addresses the impact of climate change on financial markets, and the implications for public investors. Introduced by Wolfgang Schäuble, German finance minister, it features commentators from European governments, sovereign funds and development banks.
A financial system that facilitates the transition to a low-carbon economy is 'indispensable', according to Jens Weidmann, Deutsche Bundesbank president, opening an OMFIF seminar on green finance and the role of public investors in the development of the market at the Bundesbank's Frankfurt regional headquarters.
In a keynote speech at OMFIF's seminar on green finance held in Frankfurt at the Bundesbank's regional headquarters, Michael Meister, deputy German finance minister, said that it was time to understand that climate change may be as much a matter for financial markets as was the financial crisis.
A discussion with Mohd Munir Majid, chairman of Asean Business Club
Tue 25 Jul 2017
DISCUSSIONS | Singapore
A roundtable discussion with Deputy Governor Perry Warjiyo, Bank of Indonesia
Tue 1 Aug 2017
BRIEFINGS | London
OMFIF launch to mark the 25th anniversary of ‘Black Wednesday’
Fri 15 Sep 2017
CITY LECTURES AND LAUNCHES
A discussion with Carl-Ludwig Thiele and Jochen Metzger of the Bundesbank
Wed 20 Sep 2017
DISCUSSIONS | London
Lecture by Claudio Borio, Head, Monetary and Economic Department, BIS
Fri 22 Sep 2017
CITY LECTURES AND LAUNCHES
Long-term growth and banking reform in Spain and Europe
Tue 3 Oct 2017
POLICY | Madrid
OMFIF launches the fourth annual Global Public Investor report devoted to public sector asset ownership and management across a range of official institutions around the world. Panelists included representatives from Abu Dhabi Investment Authority, Bank of Latvia and Caisse des Dépôts et Consignations.
The rights of EU nationals living in the UK has been one of the most controversial issues since Britain voted to exit the bloc in June 2016. Around 3m EU nationals live in the UK, comprising 7.3% of total UK employment.
Fed policy-makers see the slowdown in economic growth in the first quarter as 'transitory', and will be watching to see if the downturn in inflation is temporary too. Further dovish inflation data for May have added to the sense of caution.
Two years ago some commentators predicted that the price of gold could fall below $1,000 an ounce and that the market was heading for a downward spiral. Today the precious metal costs around $1,250 an ounce, and its price has been on an upward trend since the start of the year.
In 2013 oil export revenues exceeded $1.2tn for GCC economies. The IMF projects these revenues will fall to $720bn by the end of 2017. Since oil revenues make up on average more than 45% of tax revenues, the resulting budget deficits in GCC countries are unlikely to recover in the near term.
This month's advisers network poll focuses on the US decision to withdraw from the Paris climate change agreement. Of those polled, 68% remain confident in the G7's ability to meet its climate objectives without US leadership.
