As climate risks increasingly materialise, fixed income markets are expanding to finance resilience and industrial change, as the necessity of transition becomes ever more pressing.

Active stewardship continues to gain importance, enabling investors to develop a better understanding of material ESG risks and opportunities, supporting resilient investments and long-term value creation.

September 2025 marked the tenth anniversary of the Sustainable Development Goals (SDGs). At DPAM, our country sustainability model was established prior to the SDGs, reflecting our longstanding commitment to sovereign sustainability. The introduction of the SDG framework, together with greater availability of data, provided an opportunity to further enhance and align our approach, enabling a comprehensive assessment of countries’ long-term resilience and macro-financial stability.