Impact investing

We address systemic risks by integrating ESG analysis in investment decision-making across the Fund, exercising responsible stewardship over investments, and making multi-asset class investments in impact opportunities.

As a member of the Cambridge Universal Ownership Initiative, we collaborate with peer investors and academics to identify how asset owners can assess and manage social and environmental risks within their portfolios.

We participate in other key impact investing, ESG and climate investing initiatives, including PRI, Net-Zero Asset Owner Alliance (NZAOA), among others.

We signal the importance of and feasibility of investments outside of the developed markets context  for example, by making local currency fixed income investments and investments in supranational bonds issued by Multilateral Development Banks (MDBs).

We take a global approach to investment selection during the screening and selection process, including through direct investment in labelled bonds issued by developing countries.

We contribute to the advancement of impact practice by signaling to managers UNJSPF’s prioritisation of impact rigor alongside financial return via robust due diligence and impact assessment across asset classes.

We conduct rigorous Impact and ESG on prospective managers and investments that is calibrated to asset class, communicating UNJSPF’s expectations for sustainability-related practice.

We allocate capital to labelled bonds: green, social, sustainability and sustainability-linked (GSSS) and to Multilateral Development Banks (MDBs), supporting climate and biodiversity resilience, social infrastructure and development goals.

We are committed to the long-term goal of increasing our allocation to green, social, sustainable and sustainability-linked bonds in a manner consistent with the investment principles of the UNJSPF.

The SDGs offer a comprehensive framework to help identify social and environmental issues, they are aligned with our values as a UN entity and are helpful in communicating material real-world impact.

This breakdown does not include bonds of issuers that do not adhere to the International Capital Market Association (ICMA) standards on labelled bonds.

Top themes: Clean energy, affordable housing, water security.

Regions: Global, including developing economies via Multilateral Development Banks such as the African Development Bank, Asian Development Bank and International Bank for Reconstruction and Development.

Investments in public corporates that demonstrate a high degree of alignment to the UN SDGs based on revenue from sustainable products or services.

The UNJSPF leverages MSCI’s Net Alignment methodology, alongside the Fund’s impact assessment framework, to determine aligned companies, and exercise proxy voting and engagement practices, where appropriate, to advance impact and ESG outcomes.

Investments in infrastructure, private debt, private equity, real assets and real estate, primarily through financial intermediaries, with select co-investments, where the Fund integrates impact considerations into its investment strategy.

The UNJSPF seeks private markets fund managers that demonstrate a high level of intentionality aligned with the Fund’s impact themes and strong impact management and measurement capabilities consistent with global frameworks.