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3 – Sovereign money: how can government bonds be properly used?
Best Practices for sovereign wealth funds to provide acceptable answers to the financial needs of businesses.
Sovereign funds amount to more than 3,000 billion dollars in the world today, a figure which could triple by 2015.
Globally, sovereign funds were initially greeted with suspicion. This was the case for example when government funds in Singapore, China, Kuwait or Abu Dhabi made their entry into the capital of
leading banks, such as Citigroup, Merrill Lynch…, weakened by the crisis.
However various sovereign funds have since sought to improve their reputation, notably those which in September 2008 adopted a code of good practice ("the Santiago Principles") under the aegis of the IMF. By preferring reliable investment and long term securities, they contribute to reducing the volatility phenomena.
The future of the global economy partly depends on the choice of investment by sovereign funds and their management methods.
Moderator:
Joëlle BROHIER – Chair and Co-founder, CSR & Development / www.rse-et-ped.info ; CSR Consultant (Singapore)
Joelle Brohier is the Co-founder and the Chair of CSR & Development / www.RSE-et-PED.info, a leading French-language website on CSR in emerging markets and developing countries. Based in Singapore, she is at the same time a consultant in the field of CSR and works for various organisations. Before getting engaged in the field of CSR, Joelle BROHIER has worked 11 years in the private sector with UNILEVER and HAVAS ADVERTISING, holding management positions in Marketing and Communication.
Download her PowerPoint presentation : Powerpoint Joelle BROHIER
Claude DARMON, President of Group CEGELEC (Belgium)
Claude DARMON joined Group Alcatel Alsthom in 1980 and held various C-level positions there before he became President of Cegelec, with headquarters in Brussels. This global group provides companies and authorities with technology services in some 30 countries on 4 continents, employing 25,000 staff.
Cegelec has been owned by global real estate investment company Qatari Diar, a fully owned subsidiary of the Qatar Investment Authority, since October 2008, with a wide employee share ownership.
In September 2009, Qatari Diar and VINCI announce that they have held exclusive negotiations that have resulted in the following proposal: Qatari Diar is to contribute its subsidiary CEGELEC to VINCI in exchange for an equity holding in VINCI.
Download his PowerPoint presentation: Powerrpoint Claude DARMON
