Sovereign Debt
About this working group
The Sovereign Debt working group unites financial institutions, experts, and partners to embed biodiversity into sovereign debt portfolios, as well as related real assets such as infrastructure, real estate, and natural capital. By aligning debt and real asset investment with nature-positive goals, the group helps investors address risks and unlock opportunities for sustainable development.
Objective:
Equip financial institutions with tools and guidance to integrate biodiversity considerations into sovereign debt analysis and investment decisions.
Our work:
- 2025: Development of an assessment model and practical guidance for integrating biodiversity into sovereign debt analysis. Exploration of biodiversity impact assessment methods and criteria for evaluating sovereign issuers against global biodiversity goals.
- 2026: Focus shifts towards identifying opportunities and aligning sovereign debt portfolios with positive impact goals, building on the guidance and tools delivered in 2025.
Co-chairs

Gaelle Blanchard
Senior ESG Analyst
Amundi
Join a working group
All working groups are jointly coordinated by co-chairs representing member institutions and the FfB Secretariat. This co-chair model forms the cornerstone of the Foundation’s bottom-up approach, ensuring strong member ownership and collaborative leadership.