Addressing global sustainability challenges

As a universal asset owner, UNJSPF is uniquely positioned to influence capital markets and drive systemic change. By leveraging our global scale and integrating environmental and social risks into investment decisions and actively seeking impact opportunities, we aim to contribute meaningfully to a more sustainable and equitable world.

To learn more, access our impact investing policy and most recent impact report.

On 24 December 2021, the General Assembly of the United Nations adopted Resolution 76/246, requesting that the UNJSPF explore impact investing across all its asset classes.

Our inaugural Impact Investing Report offers in-depth insights into our impact management strategy, the allocation of impact investments for 2024, and features case studies highlighting our approach to impact investing.

Impact investing

Key highlights

$1.2 billion committed to impact investments

$220 million committed to impact investments in emerging and developing economies

Impact investments aligned with all 17 SDGs

Data as at 31 December 2024

Portfolio composition by focus area

Community Empowerment & Development

Climate & Energy Transition

Natural Resources

Fundamental Needs & Infrastructure

Impact investments by asset class

Private Markets

Public equities

Natural Resources

SDG alignment (% of impact portfolio)

Based on total impact capital committed, as of 12/31/2024. The above allocation does not represent the asset allocation of the Total Fund. Analysis based on all SDGs addressed by each investment, leveraging MSCI and Bloomberg SDG data, as well as private market managers' alignment frameworks. Many investments address multiple SDGs.

Our focus areas

Our core themes are where global nee and our ability to make a difference intersect. We deploy impact capital and measure impact performance across each of these four themes. Discover real-world results and inspiring stories in our 2024 Impact Report.

Climate Change & Energy Transition

Clean mobility, clean energy, battery storage, adaptive infrastructure

Natural Resources

Water management, circular economy, regenerative agrilculture

Fundamental Needs & Infrastructure

Affordable housing, healthcare, food security

Community Empowerment & Development

Financial inclusion, education, decent jobs

UNJSPF’s Contribution

As a universal asset owner with a global mandate and a long-term horizon, the UNJSPF is uniquely positioned to drive systemic change. In addition to allocating capital, we seek to contribute further by shaping industry-wide impact investment practices. This strategy applies across our portfolio—public and private markets, equity and fixed income— and is adapted to the tools and levers available within each asset class.

In addition to making impactful investments, we define our contribution by three pillars:

Universal Ownership

We address systemic risks by integrating ESG analysis in investment decision-making across the Fund, exercising responsible stewardship over investments, and making multi-asset class investments in impact opportunities.

We participate in other key impact investing, ESG and climate investing initiatives, including PRI, Net-Zero Asset Owner Alliance (NZAOA), among others.

Proactive Sourcing

We signal the importance of and feasibility of investments outside of the developed markets context for example, by making local currency fixed income investments and investments in supranational bonds issued by Multilateral Development Banks (MDBs).

We take a global approach to investment selection during the screening and selection process, including through direct investment in labelled bonds issued by developing countries.

Impact Influence

We contribute to the advancement of impact practice by signaling to managers UNJSPF’s prioritisation of impact rigor alongside financial return via robust due diligence and impact assessment across asset classes.

We conduct rigorous Impact and ESG on prospective managers and investments that is calibrated to asset class, communicating UNJSPF’s expectations for sustainability-related practice.

Impact frameworks and initiatives

UNJSPF's IM framework provides a rigorous, structured system of processes and tools to screen, assess, measure and report on impact investments across all asset classes. The IM framework aligns with global best practice and embeds impact considerations from sourcing and assessing opportunities to managing them to achieve intended impact outcomes. Reference frameworks and industry initiatives include:

Our impact investing activities

The UNJSPF’s impact investing activities span public and private markets, fixed income and equity, developed and emerging economies. Across all asset classes, we integrate sustainability and impact considerations to mobilize capital toward solutions.

Fixed income

We allocate capital to labelled bonds: green, social, sustainability and sustainability-linked (GSSS) and to Multilateral Development Banks (MDBs), supporting climate and biodiversity resilience, social infrastructure and development goals.

*Figure as at May 2025

We are committed to the long-term goal of increasing our allocation to green, social, sustainable and sustainability-linked bonds in a manner consistent with the investment principles of the UNJSPF.

The SDGs offer a comprehensive framework to help identify social and environmental issues, they are aligned with our values as a UN entity and are helpful in communicating material real-world impact.

This breakdown does not include bonds of issuers that do not adhere to the International Capital Market Association (ICMA) standards on labelled bonds.

Top themes: Clean energy, affordable housing, water security.

Regions: Global, including developing economies via Multilateral Development Banks such as the African Development Bank, Asian Development Bank and International Bank for Reconstruction and Development.

Equities

Investments in public corporates that demonstrate a high degree of alignment to the UN SDGs based on revenue from sustainable products or services.

The UNJSPF leverages MSCI’s Net Alignment methodology, alongside the Fund’s impact assessment framework, to determine aligned companies, and exercise proxy voting and engagement practices, where appropriate, to advance impact and ESG outcomes.

Private markets

Investments in infrastructure, private debt, private equity, real assets and real estate, primarily through financial intermediaries, with select co-investments, where the Fund integrates impact considerations into its investment strategy.

The UNJSPF seeks private markets fund managers that demonstrate a high level of intentionality aligned with the Fund’s impact themes and strong impact management and measurement capabilities consistent with global frameworks.