Global Horizon Sovereign Wealth Fund Announces $15 Billion Climate Allocation Strategy Targeting Net-Zero Portfolio by 2045
OSLO, Norway, November 23, 2025 – Global Horizon Sovereign Wealth Fund (GHSWF), managing assets of $340 billion on behalf of the Norwegian citizens, today unveiled a transformative climate allocation strategy that will direct $15 billion over the next three years exclusively toward decarbonization investments, marking one of the most aggressive sustainable finance commitments among global sovereign investors.
The strategic pivot positions GHSWF among the 75% of sovereign wealth funds now systematically integrating climate factors into investment decisions, a sharp increase from 62% in 2023, according to landmark research published by Pensions & Investments. The fund’s new framework mandates that 40% of all new capital deployments target renewable energy infrastructure, energy storage systems, and low-carbon industrial technologies, with a geographic emphasis on high-growth emerging economies where financing gaps for climate projects exceed $2.8 trillion annually.
“This is not a concession to political pressure—it is a fiduciary imperative,” said GHSWF Chief Executive Officer Ingrid Solberg during the announcement at the fund’s Oslo headquarters. “Climate risk is investment risk, and the data increasingly demonstrates that companies with credible transition strategies deliver superior risk-adjusted returns over sovereign investment horizons. Our mandate spans generations; we cannot fulfill it without addressing the systemic threat of climate change.”
The allocation strategy, effective January 2026, establishes three distinct investment pillars. The first pillar, representing $7 billion, will finance utility-scale solar and offshore wind projects in Southeast Asia and North Africa through direct equity stakes and blended finance vehicles. The second pillar allocates $5 billion to venture and growth-stage companies developing breakthrough technologies in carbon capture, green hydrogen production, and sustainable aviation fuels. The third pillar deploys $3 billion into climate-resilient infrastructure including flood defenses, drought-resistant water systems, and grid modernization across sub-Saharan Africa.
Implementation will follow rigorous criteria aligned with the One Planet Sovereign Wealth Funds (OPSWF) framework, which convened its 8th annual CEO Summit in Paris last month with 80 institutions representing $48 trillion in assets. GHSWF, a founding OPSWF member, will apply a proprietary climate value-at-risk model to screen all investments, divest from companies failing to meet net-zero transition pathways by 2027, and require portfolio companies to disclose scope 1, 2, and material scope 3 emissions using Task Force on Climate-Related Financial Disclosures (TCFD) standards.
Market data from the International Forum of Sovereign Wealth Funds reveals that sovereign investors have increased clean energy allocations by an average of 18% annually since 2020, while reducing exposure to carbon-intensive assets by 12% over the same period. GHSWF’s strategy accelerates this trend with interim targets of 50% emission intensity reduction across its public equity holdings by 2030 and full portfolio net-zero alignment by 2045—five years ahead of the Paris Agreement timeline.
The fund’s 2025-2028 capital plan also includes a pioneering co-investment platform, the Green Nordic Partnership, which will mobilize an additional $8 billion from Scandinavian pension funds and development finance institutions to de-risk early-stage climate infrastructure in emerging markets, targeting blended returns of 8-10% while catalyzing private capital flows.
About Global Horizon Sovereign Wealth Fund
Established in 2001, Global Horizon Sovereign Wealth Fund manages Norway’s petroleum revenues with a mandate to preserve long-term purchasing power for future generations. The fund holds diversified investments across 72 countries, with 68% in public equities, 28% in fixed income, and 4% in unlisted real estate and infrastructure. As a signatory to the United Nations-supported Principles for Responsible Investment, GHSWF integrates environmental, social, and governance factors across all asset classes and maintains active ownership of over 9,000 portfolio companies.
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