Dubai, 4th December 2023 – Africa investor (Ai) unveiled the GEMs3.0 initiative today during COP28 Finance Day.
Over the past decade, more than 500 private investors have asked the MDBs and DFIs to make the Global Emerging Markets Database (GEMs) database available to allow investors to gain a deeper understanding of investment risk in Emerging Markets and Developing Countries (EMDC’s), helping to increase their investment in these countries.
Forced by the alarming public evidence of the tens of billions of dollars of lost opportunities and direct costs to EMDC’s of Multilateral Development Banks (MDB’s), not releasing the GEMs database to investors and credit rating agencies, MDBs have grudgingly committed to providing access to GEMs data in January 2024, through the GEMs2.0 initiative.
Ai established the GEMs3.0 initiative to accelerate and shift GEMs2.0 from minimal disclosure to a data driven asset allocation at scale platform for Africa and EMDC’s.
GEMs 3.0 is an institutional investor-led Emerging market and Emerging Markets including Africa (GEMs is global) investment risk data analytics initiative, to systematically support and harness investor insights and engagement, to implement the G20 Capital Adequacy Framework (CAF), The COP27 Presidency’s, The New Financial Pact Summit’s, The Bridgetown Initiative’s, The Africa Climate Summit’s, The SDG Review’s, and the $150trn Institutional Investor Consortiums’ COP28 Call-to-Action and recommendations, urging MDBs and DFI’s to take bold and immediate steps to form institutional investor-public partnerships, to democratize GEMs2.0 data analytics access and exponentially increase private capital mobilization allocations and financing capacity, to close the climate and SDG investment and financing gap in Africa and EMDC’s.
GEMs3.0 will build on and expand GEMs 2.0 with new data based on inputs from the institutional investment community, including the top rating agencies. GEMs3.0 aims to transform GEMs2.0 data into an asset allocation tool, to enable institutional investors to contribute to the process so that issuers, investors, and governments can begin to work together towards de-risking and promoting greater investment allocations and financing to help meet the SDG and the Paris Accord targets.
Read About GEMs3.0 here
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