Research
Research & Institutional Perspectives.
GEMs3.0 develops research and institutional perspectives on capital allocation, sovereign infrastructure and financial market architecture.
Selected material is shared directly with engaged institutional investors, financial institutions and market-infrastructure counterparties on request.
Institutional Enquiries →GEMs3.0 Resources
Reports & publications
From gems3.ai/gems3-0-resources
Allocatability Risk-Bounding (ARB) Report 2026
Argues that allocatability, not bankability, is now the primary constraint on scaling infrastructure capital.
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Sovereign Infrastructure Asset Class Lighthouse Report
Sets out the architecture for Sovereign Infrastructure as a benchmark-compatible institutional asset class.
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Top Risks 2025
A review of the risks investors and institutions were watching most closely heading into 2025.
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2025 Investment Management Outlook
Deloitte's outlook on AI adoption, product innovation and risk across investment management in 2025.
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EY Global Institutional Investor Survey 2024
EY's global survey of institutional investor sentiment and priorities.
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Green Technology Book: Energy Solutions for Climate Change
A survey of green technologies and energy solutions being deployed against climate change.
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Reconciling Portfolio Diversification with a Shrinking Carbon Footprint
Examines how investors can diversify portfolios while reducing carbon exposure.
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ADB Sovereign Default and Loss Rates
Asian Development Bank data on sovereign default and loss experience.
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Investing in Nature as Infrastructure: The Opportunity
Makes the case for treating natural capital as investable infrastructure.
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How CIOs are investing in a climate-resilient economy
Looks at how chief investment officers are positioning portfolios for climate resilience.
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GEMs default statistics publication on private and public lending 1994-2023
GEMs default statistics spanning private and public lending from 1994 to 2023.
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FTSE Russell SI LSEG Asset Owner Survey 2024
FTSE Russell's survey of asset owners on sustainable investment adoption.
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Quantifying Preferred Creditor Treatment by Rating Grade
Quantifies how preferred creditor treatment affects outcomes across rating grades.
View resource ↗Asian Development Bank Sovereign Default and Loss Rates
ADB data on sovereign default and loss rates across the region.
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Powering Change: Building Resilience in a Transforming Climate
Explores building resilience into energy systems amid a transforming climate.
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STATE OF THE MARKET 2024 — Trends, Performance and Allocations
A market-wide review of 2024 trends, performance and capital allocations.
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Investing in the green economy 2024
A 2024 review of investment flows into the green economy.
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Asset owners remain positive about sustainable investment
Survey findings on asset owners' continued confidence in sustainable investment.
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Crowding in: An advanced approach for measuring and disclosing private capital mobilisation
Proposes an advanced methodology for measuring and disclosing private capital mobilisation.
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Default Statistics — Private and Sub-Sovereign Lending 1994-2022
GEMs default statistics for private and sub-sovereign lending from 1994 to 2022.
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GEMs data on sovereign and sovereign-guaranteed lending from 1998 to 2022.
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Recovery Statistics: Private and Sub-Sovereign Lending 1994-2022
GEMs recovery statistics for private and sub-sovereign lending from 1994 to 2022.
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IBRD Portfolio Historical Borrower Default Experience
IBRD's historical portfolio data on borrower default experience.
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IFC Portfolio-Default Rate Analysis
Nearly 40 years of IFC portfolio data analysed for default-rate trends.
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Ai GEMs Database Democratization Memo
Makes the case for democratising access to GEMs risk-data analytics.
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GEMs3.0
An overview of the GEMs3.0 initiative and its investment risk data analytics.
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Mahesh Kotecha, CFANY 2023 ESG Conference (Remarks)
Remarks delivered at the CFA Society New York 2023 ESG conference.
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