SWFs: A New Hope?

Ashby Monk

SWFs are apparently interested in doing their part for a cleaner, more sustainable world. The China Daily reports that China has entered into a cooperative arrangement with the Kazakstan’s sovereign wealth fund, Samruk Kazyna, on a wind-power cooperation program, which will be followed by some cooperative projects in the field of renewable energy. The announcement of the deal is well-timed: coming during the COP15 negotiations, it will build on some of the other environmental work SWFs are doing.

I’ve argued that SWFs should be getting involved in clean-tech and renewables, which offer commodity sourced SWFs, such as the Kazakh fund, a good hedge against technological advances that might reduce our dependence on hydrocarbons (and cut off their funding).  Moreover, since Kazakhstan apparently has money to burn on projects that have no financial objectives, why not burn it on things that have social and environmental benefits (which is better than having it siphoned off due to corruption)?

waxed poetic last week about how the rise of SWFs may end up ameliorating international relations through new cooperative arrangements between countries. This latest announcement is yet another example of how a long-term institution with deep pockets can be a positive influence in an increasingly globalized world. Do SWFs represent ‘a new hope‘?

1 Response to “SWFs: A New Hope?”

  1. 1 rien huizer December 15, 2009 at 2:39 pm

    What a wonderful, seasonal thought!

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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