ANIF CEO David Papazian said that participation of sovereign funds in the formation of the country’s ESG regulations is increasing both in developed and developing countries.

“In Armenia, these issues are often still in their infancy, and it is important for ANIF to contribute to the synchronization of our business practices with the increasingly stricter requirements of the international markets. The exchange of experience in these forums, presentation of our programs and Armenia’s efforts in this direction on such platforms is important, although its importance is not always properly appreciated,” David Papazian said.

ANIF reported that International Forum of Sovereign Wealth Funds (IFSWF) held its forum on May 26 in Milan headlined “The Sustainability Footprint of Sovereign Wealth Funds: Impact, Progress and Challenges”.

ANIF CEO David Papazian and BOD member Isidoro Lucciola participated in the event.

The focus of the forum was sustainable investing and the role that sovereign wealth funds can play in supporting sustainable business behavior across their portfolios and beyond.

Isidoro Lucciola, BOD member of ANIF, commented on the conference and ANIF’s participation:

“It is becoming increasingly important for sovereign wealth funds to use their growing influence to support businesses and projects aiming at reducing carbon emission, promoting positive social impact and ensuring best governance practice. The vison and mission of sovereign funds, broadly to develop the national economy and to generate wealth for future generations within macroeconomic policy setting and objectives, is naturally connected with the implementation of ESG agenda.”

“The conversations during the forum focused on toolboxes sovereign funds can use to promote ESG goals in business developments in their countries,” Isidoro Lucciola said, speaking also to “Milano Finanza” newspaper about Armenia’s economic aspirations.

He noted that ANIF investments activity is becoming a sustainability sector benchmark and ESG will certainly continue to be a driving force in investment decisions.

ANIF has become an associated member of IFSWF in 2022.

David Papazian will also be speaking this week at another conference, “Global Wealth Conference – Europe 2023” hosted by Sovereign Wealth Funds institute in London.