Federated Hermes Limited & "GASP" Establish Partnership at COP28

Following constructive dialogue in the run up to UNFCCC COP28, United Arab Emirates, investment manager Federated Hermes Limited, and The Global Alliance for a Sustainable Planet announce their intention to work together and find new ways to collaborate on innovative investment solutions.

The ambition is to create a scalable platform that aligns impact-focused patient capital with the development needs of countries on the frontlines of climate change.

Federated Hermes Limited is a pioneer of investment stewardship and of creative, impact investment strategies, placing it at the forefront of sustainable investment since 1983.

The Global Alliance is dedicated to catalyzing transformative solutions to address the world’s most pressing challenges. It builds virtuous partnerships between key stakeholders, such as entrepreneurs, major global corporations, development finance institutions, civil society organisations, and investors, who can collectively incubate ideas with significant sustainability impact.

Federated Hermes Limited and the Global Alliance will explore the prospects of leveraging concessionary capital as a means to attract private investment to opportunities which will contribute to solving some of humanity’s most urgent challenges as articulated in the UN’s Sustainable Development Goals. This collaboration is motivated by the importance of finding new pathways to sustained prosperity while preserving ecosystems and planetary health.

Saker Nusseibeh, CBE, CEO of Federated Hermes Limited, said: “At this year’s COP28 meeting, we remain highly motivated to find new ways to amplify private capital’s role in financing and driving positive and sustainable change. The Global Alliance has shown an impressive ability to convene important conversations and build partnerships at all levels to mobilize private finance for public good. We are excited to collaborate with The Global Alliance, and draw on our experience in blended and impact financing to identify opportunities to help poverty alleviation and promote sustainable economic development.”

Satya S. Tripathi, Secretary-General, Global Alliance for a Sustainable Planet, further comments: “We look forward to working with Federated Hermes Limited to find opportunities for innovation across geographies, to facilitate important knowledge transfer and capital flows, as well as continuing to build a collaborative network of Earth champions.”