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.

Devastating wildfires across Europe have once again put climate change in the spotlight. As the world faces intensifying climate risks, government bonds are emerging as a lever for financing the low-carbon transition. Investors and sovereign issuers can benefit from constructive dialogue and the exchange of best practices to support resilient and sustainable economic development.

In recent years, extreme weather events have become more frequent, more severe, and more costly. The summer of 2026 offers a particularly striking illustration.