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Digital Subscriptions > > 460 billionaires will hand over US$2.1 trillion in the next 20 years–can the next generation help fund the SDGs?

460 billionaires will hand over US$2.1 trillion in the next 20 years–can the next generation help fund the SDGs?

Following UBS’s announcement at the 2017 World Economic Forum that it is seeking to scale up the amount of private capital invested by wealthy millennials in attaining the Sustainable Development Goals, Montira Rungjirajittranon highlights the challenges to leveraging such capital in support of development programmes

January 2017 could mark a new era in impact investment after UBS, the largest private bank by assets under management, unveiled a white paper setting out its blueprint for channelling private wealth to the United Nations’ Sustainable Development Goals (SDGs).

Presenting its findings at the World Economic Forum in Davos, Switzerland, the firm backed up its announcement by saying it will commit a minimum of US$5 billion of client money over five years to investments linked to international development programmes.

Simon Smiles, chief investment officer for ultra high net worth at UBS Wealth Management, says that apart from the financial strengths of private individuals, their investment needs, which aim for a long-term investment horizon, are also in line with the demands of SDG projects in ways that institutional capital often is not.

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