December, 16, 2019

Government Pension Investment Fund (GPIF) and Council of Europe Development Bank (CEB) have recently formed a partnership to promote and develop sustainable capital markets through a focus on Social Bonds, as well as the incorporation of ESG assessments in fixed income investments.

CEB's Social Bonds are issued in alignment with the Social Bond Principles, which are administered by the International Capital Market Association (ICMA). These bonds provide investment opportunities for GPIF asset managers to contribute to make a sustainable society.

＜Comment by Hiro Mizuno, Executive MD and CIO of GPIF＞
GPIF requires all asset managers to integrate ESG into their investment analysis and decision-making. We regard purchase of Green, Social and Sustainability Bonds as one of the direct methods of ESG integration in the fixed income investment. CEB's social mandate and action as the oldest European multilateral development bank has played a key role in the advancement of social integration in European societies by placing emphasis on socially oriented issues. GPIF values CEB's expertise in this area and looks forward to working together on this initiative.

＜Comment by Jacques Mirante-Péré, Chief Financial Officer, CEB＞
We are privileged to partner with GPIF. Their leadership on ESG-focused investments lends important support to the type of high-social-impact projects that the CEB finances throughout Europe.

＜Link to the Principles and Guidelines for Green, Social and Sustainability Bonds＞
https://www.icmagroup.org/green-social-and-sustainability-bonds/

＜Investment Scheme＞