The Sovereign Wealth, Trust, Provident, and Superannuation Funds of the Pacific Islands Investment Form (PIIF) met in Auckland last week.
The meeting was hosted by the NZ Superfund, where they accepted the research and recommendations to develop a co-investment platform and approved an MOU committing to work together to assess and ultimately invest in projects that will deliver economic, environmental and social impact to our members across the region.
This is outlined in a statement issued today.
This joint initiative from within the local Pacific investment industry demonstrates our joint national capability, as well as our pooled capital, poised for investing.
As many of our funds reach a size relative to our domestic GDP that will increasingly mean we need to be net exporters of capital in search for sustainable returns, our joint effort towards skills enhancement, commitment to global best-practice in governance, and the highest professional standards is the best way to ensure sustainable long-term financial security for our members within a changing world.
In search for commercial returns that provide social impact for members and sustainable finance for the environment, this announcement comes at a time when global partners are vying separately to secure influence in the region. We believe there is a strong alignment between our local capital and governance alongside suitable foreign partners who wish to work with us.
Pauli Prince Suhren, Chairman of the PIIF and CEO of the Samoa National Provident Fund said, Pacific nations face many challenges in the development of infrastructure and businesses that enhance the lives of our citizens, particularly in sectors that deliver essential services such as food security, sustainable energy, health, transport, logistics and telecommunications.
“The signing of this MOU comes amid a growing recognition internationally of the need to avert a climate disaster. Pacific nations are among those most at threat from harmful climate change.
“Our co-investment model offers a conduit for sustainable investment with credible local partners who exhibit the best of global standards.
“Millions of people across the Pacific stand to benefit from our co-investment approach to overcome a massive infrastructure gap that could also yield significant capital inflows, jobs and more sustainable economic growth.”
