GRA · Sovereign Capital Nexus

Spatial financeWhere capital meets hazard, exposure and transition

Sovereign Capital Nexus

Sovereign wealth and state-owned investment institutions, national asset risk and long-horizon stewardship. Sovereign Capital Nexus is an established platform of The Global Risks Alliance.

STEM methods
3
Canonical methods this field applies
Topics
8
Subject pages in the field
Counterparts
1
Platforms in shared fields across the network
Report series
1
Reports series it contributes to
01Coverage

The areas of sovereign and public finance this platform takes on.

Sovereign Capital Nexus studies how states hold, invest and borrow against national wealth: sovereign wealth funds, state asset portfolios, resource revenues, public debt and the contingent liabilities that link them. Its pages set out how sovereign balance sheets are built, how stress reaches them through commodity prices, refinancing, geopolitics and disasters, and which institutions decide. Indicators are named with their units and sources, never their values. The platform shares industry understanding and gives no investment advice.

Area

Sovereign wealth funds

Stabilisation, savings, pension reserve and development funds: mandates, asset allocation and the rules that pay money in and take it out.

Area

Public sector balance sheet

Financial and non-financial assets, debt and contingent liabilities of government and public corporations, read together.

Area

State-owned enterprises

Commercial state assets, their returns, guarantees and quasi-fiscal activity, and the fiscal risk they carry.

Area

Resource revenues

Oil, gas and mineral receipts, their volatility, and the fiscal rules and funds that smooth or save them.

Area

Debt and refinancing

Debt composition by maturity, currency and creditor, market access and the rollover risk that structure creates.

Area

Reserves and liquidity buffers

Foreign exchange reserves, fiscal buffers and contingent credit lines as the first defence against external and fiscal shocks.

Area

Disaster and climate risk finance

Risk layering across budget reserves, contingent credit, regional risk pools and catastrophe bonds, and its gaps.

Area

Governance and geopolitics

Separation of owner, board and manager, investment screening, sanctions and cross-border exposure of state investors.

02Monitor

Sovereign fund tranche console.

The screen a team would use to follow this field: its measures, states and decisions. Names are examples and values are illustrative.

Sovereign fund tranche console

Sovereign fund S · Year 2

  • Severe scenario drawdown
    18pct of fundWatch
  • Years of fiscal buffer
    2.9yearsNormal
  • Transparency index
    7of 10Normal
Withdrawal rule on trackGRA · Sovereign Capital Nexus

Allocation by tranche

  • Cash and bonds
  • Equities
  • Real assets

Rules

Withdrawal3 pct of fund2.6 pctWithin
Liquidity tranche8 months imports12 monthsBelow
Domestic share7 pct max8 pctWithin
Sovereign fund tranche console: the screen’s structure, terms and states for Sovereign fund S.Example names and illustrative values; a design, not a record or a live system.
04Scenario model

Sovereign debt paths and the odds of breaching a threshold.

The distribution of debt paths, and the share above a threshold of concern at the horizon, that sovereign investors and rating analysts read from a fan chart. Teaching model with stated illustrative values, not a prediction.

  • Median, 25% to 75% and 10% to 90% bands
  • No shocks

Controls

Debt today
70% of GDP
Effective nominal interest rate
5.0%
Nominal GDP growth
4.5%
Primary balance
−0.5% of GDP
Volatility of growth
2.0 points
Volatility of the interest rate
1.0 points
Years ahead
10 years
Threshold of concern
90% of GDP

Readouts

Median debt at the horizon
78% of GDP
Paths above the threshold at the horizon
2%
Primary balance that stabilises debt
0.3% of GDP
Numbers, methods and sources
Year10%25%Median75%90%
070.070.070.070.070.0
168.769.770.871.772.9
268.770.171.673.174.6
368.670.672.574.376.2
469.071.173.175.477.6
569.571.874.376.878.9
669.772.174.977.980.0
770.172.775.878.581.3
870.773.576.579.783.0
971.374.177.680.884.2
1071.674.878.281.685.2

Methods

  1. Debt dynamics and the interest-growth differential Blanchard (2019), Public debt and low interest rates, American Economic Review 109
  2. Stochastic fan charts Celasun, Debrun and Ostry (2006), IMF Staff Papers 53
  3. Sovereign risk and debt sustainability framework IMF (2022), Staff Guidance Note on the SRDSF

Data

No observed data enters this model: it runs on the teaching values set by the controls, to be replaced with a programme’s own evidence.

Sovereign debt paths and the odds of breaching a threshold. Illustrative teaching model: it runs on the values set by the controls, not on measured data. Methods: Debt dynamics and the interest-growth differential (Blanchard (2019), Public debt and low interest rates, American Economic Review 109); Stochastic fan charts (Celasun, Debrun and Ostry (2006), IMF Staff Papers 53); Sovereign risk and debt sustainability framework (IMF (2022), Staff Guidance Note on the SRDSF).
05Overview

What Sovereign Capital Nexus does.

Sovereign wealth is the financial and real assets a state holds, from sovereign wealth funds and reserves to state enterprises and resource rights, set against the debt and contingent liabilities it carries. Sovereign Capital Nexus, the Global Risks Alliance’s platform for the field, explains how states hold, invest and borrow against national wealth; it advises no fund or state.

Who it serves

Its community

Sovereign fund specialists; public asset stewards; investment governance researchers.

How it works

Its methods

Sovereign exposure analysis; governance; state asset dependencies.

What it produces

Its outputs

Sovereign risk research; stewardship briefs.

06Twin and cascade simulator

Trace a shock in Sovereign Capital Nexus to the balance sheet.

Assembled from the Nexus Standards area profile Financial and economic risk standards: the shocks it names, the systems and sectors that carry the loss, the controls that dampen it and the data that observe it. Pick an initiating shock and step through the cascade to see which exposures it reaches and where losses could concentrate. The Map view places the run on an example geography with open data. Every weight is a stated assumption. An exercise, not a forecast, a valuation, a rating or investment advice. To model a place of your own choosing, open the full System Builder.

Hazards

  • Sea-level rise
  • Dam failure
  • Coastal flood (set off downstream)
  • Storm surge (set off downstream)
  • High-tide flooding (set off downstream)
  • Coastal erosion (set off downstream)
  • Saltwater intrusion (set off downstream)
  • Estuary flood (set off downstream)
  • River flood (set off downstream)
  • Flash flood (set off downstream)
  • Mass displacement (set off downstream)
  • Coastal habitat squeeze (set off downstream)
  • Wetland loss (set off downstream)
  • Mangrove loss (set off downstream)
  • Groundwater flood (set off downstream)
  • Widespread power outage (set off downstream)
  • Water supply shortfall (set off downstream)
  • Climate-driven migration and relocation (set off downstream)

Controls

  • NS-0 Constitution and principles
  • NS-3 Risk record UNIs (grammar, legacy crosswalk, allocation authority)
  • NS-9 Contextual UNIs (deployments, instances, programme instances)
  • NS-10 Policies and clauses (machine-readable obligations: definition, binding, evaluation and enforcement)
  • NS-11 Verification and monitoring (evidence, attestations, zero-trust conformance observation)
  • NS-14 Conformance and crosswalk to external standards
  • NRS-H59 Hazard family: Economic shocks and governance failure (NHS-1 soc.economic)
  • NRS-H113 Hazard family: Financial-system fragility (NHS-1 soc.financial-system)
  • NRS-H118 Hazard family: Organised crime and illicit economies (NHS-1 soc.crime)
  • NRS-H114 Hazard family: Macroeconomic and fiscal shocks (NHS-1 soc.macro-fiscal)
  • NRS-H61 Hazard family: Cascading failure (NHS-1 sys.cascade)
  • NRS-U27 Universe platform profile: Sovereign Capital Nexus

Observation

  • IMF data services (WEO, IFS, FSI via SDMX) (listed for reference)
  • BIS Data Portal (credit, debt service, property prices, banking statistics) (listed for reference)
  • World Bank Open Data and World Development Indicators API (listed for reference)
  • OECD Data Explorer (SDMX API) (listed for reference)
  • Macroeconomic Dashboard
  • Debt service as a proportion of exports of goods and services
  • Financial Soundness Indicators

Example geography

  • Western Europe: 152 hexagonal cells
  • Night lights tonight, outages (VIIRS Day/Night Band), NASA GIBS
  • Surface water through cloud, 30 m (OPERA DSWx-S1 radar), NASA GIBS
  • Rain rate, last half hour (IMERG), NASA GIBS
  • Vegetation disturbance alerts, 30 m (OPERA DIST-ALERT), NASA GIBS
07The problem

National wealth held for the long term, exposed to shocks.

Many states hold substantial financial and commercial assets: sovereign wealth funds built from resource revenues or trade surpluses, reserve and pension reserve funds, and portfolios of state-owned enterprises in energy, transport, telecommunications and banking. These assets serve different purposes, from smoothing budgets through commodity cycles to saving resource wealth for future generations and financing national development.

Their stewardship faces distinctive risks. Long horizons expose portfolios to slow-moving forces such as climate change, demographic shifts and technological disruption that conventional market models handle poorly. Concentrated holdings in domestic state enterprises can tie national wealth to the same economy, and the same commodity prices, that it is meant to protect against. Political pressure can blur the line between investment and fiscal spending. Geopolitical tension increasingly shapes where sovereign investors can invest and how their investments are received.

Failures cascade between the sovereign balance sheet and the wider economy. A fund drawn down to cover a budget shortfall reduces buffers for the next shock; a troubled state enterprise can become a liability for public finances; and large sovereign portfolio shifts can move markets. Shared understanding of these channels serves sovereign investors, the markets they invest in and the citizens whose wealth they hold.

08Exposure, loss and capital

What Sovereign Capital Nexus means for exposure, loss and capital.

The exposure, loss, scenario and capital views a risk officer, supervisor or ministry of finance would ask for, with the frameworks they report against. Structures follow supervisory and actuarial practice. Values are illustrative: never prices, ratings or advice.

Capital, solvency and fiscal indicators

The indicators a risk officer, supervisor or ministry of finance reads first on Sovereign Capital Nexus.

IndicatorUnitWho reads itFramework
Public debt% of GDPMinistries of finance, IMFDebt Sustainability Framework
Gross financing needs% of GDP per yearMinistries of finance, investorsDebt Sustainability Framework
Contingent liabilities% of GDP, by sourceMinistries of financeFiscal risk statements
Interest to revenue% of revenueMinistries of finance, rating usersPublic finance statistics
Sovereign spreadbasis points over a benchmarkInvestors, debt managersMarket data
CET1 ratio% of risk-weighted assetsBanks, supervisorsBasel framework
Liquidity coverage ratio% of stressed outflowsBanks, central banksBasel framework
Source: the frameworks named in each row. Indicator names, units and frameworks only; values belong to each institution’s own reporting and are never shown here.

Transmission channels

How a shock in Sovereign Capital Nexus reaches credit, market, underwriting, liquidity and operational risk, and feeds back.

Channel structure after the Basel Committee’s work on climate-related risk drivers and transmission channels; links shown are typical paths, not estimated exposures.
NGFS climate scenarios · Network for Greening the Financial SystemIFRS S2 Climate-related Disclosures · ISSBTCFD recommendations · Financial Stability Board TCFDPrinciples for the effective management of climate-related financial risks · Basel Committee on Banking Supervision
09What the platform does

Shared understanding, not investment.

Sovereign Capital Nexus is designed for sovereign fund specialists, public asset stewards and investment governance researchers.

Research

Sovereign risk research

Sector-level analysis of sovereign exposure, state asset dependencies and the shocks that reach national portfolios.

Stewardship

Stewardship briefs

Evidence on governance and long-horizon stewardship practice, with limits and uncertainty stated.

Methods

Shared methods

Approaches to sovereign exposure analysis and governance assessment that institutions can apply under their own authority.

GRA does not invest, manage assets, advise on securities or on their issue, or offer, solicit or recommend any security, fund or transaction, and it introduces no counterparties. Readiness work is not approval. GRA’s programmes are designed around competition-law safeguards that keep cooperation precompetitive, set out in a written competition policy.

10Spatial finance

Hazard geography and debt that can pause.

Hazard geography by country beside a debt clause that pauses payments after a disaster. Design index, not a rating.

Countries by their exposure to coasts, cyclones and earthquakes, beside a debt clause that pauses payments after a disaster.Geometric design index, not a rating; a reference bond, not any issuer’s terms.
11Foundations and counterparts

Methods from the STEM Commons, partners across the Consortium.

Sovereign Capital Nexus applies financial economics and macro-finance, economics and development economics and decision analysis under uncertainty, each described with its assumptions on the STEM foundation of Sovereign Capital Nexus. Inside Foundry it works with the NXS-DSS (decision cases and deliberation) and The Global Risks Index (NXS-GRX) systems, and its work is designed for the Finance and Insurance Readiness report series. Sovereign asset resilience is its planned theme in the annual Universe programme.

Its counterpart at the Global Risks Forum (GRF) is Capital Nexus at the Global Risks Forum (GRF), which convenes leaders on the governance of capital for shared risks. Economic science comes from Economic Development at The Global Centre for Risk and Innovation (GCRI). Within GRA, Public Finance and Sovereign Debt covers the debtor side of the sovereign balance sheet, and Institutional Funds Nexus covers other long-horizon institutional investors. All counterparts are listed on counterparts across the Consortium.

12Grounding

Built on named science, technology, engineering and mathematics.

Every claim on Sovereign Capital Nexus rests on methods with a canonical page in the STEM Commons, so readers can see what a finding depends on and where its limits lie.

Financial economics and macro-financeEconomics and development economicsDecision analysis under uncertainty

See the STEM foundation of Sovereign Capital Nexus

13Cycle

How work moves in this field.

A question becomes evidence, a governed build, an organised community, a controlled test, a reviewed publication and, finally, a decision taken by the competent authority under its own rules.

  1. Question Universe National, regional or institutional priority. Question in Sovereign Capital Nexus
  2. Evidence Foundry STEM foundation of the platform. Evidence in Sovereign Capital Nexus
  3. Build Foundry Foundry. Build in Sovereign Capital Nexus
  4. Organise Universe Nexus ecosystem. Organise in Sovereign Capital Nexus
  5. Test Universe Universe (independent site). Test in Sovereign Capital Nexus
  6. Publish Reports Reports. Publish in Sovereign Capital Nexus
  7. Decide Competent authority Competent authorities and institutions, through NXS-RLS (participants, agreements and handoffs). Decide in Sovereign Capital Nexus
  8. Renew Universe Corrections and the next annual agenda. Renew in Sovereign Capital Nexus

Each step of the cycle in the pillar it runs in; the decision stays with the competent authority, outside the programme.

14Six pillars

How this works across the six pillars.

Sovereign Capital Nexus works through six pillars of one annual programme, led by the Nexus Consortium, with GCRI, GRF and GRA each contributing in its role: explore, experiment and prototype in Labs, build, simulate and prepare in Foundry, convene and test in Universe, codify, correct and apply in Nexus Standards, publish in every format in Reports, teach in the open in Risk Academy.

Select pillars · hover lines18 / 18 handoffs

Route

The whole programme

Every pillar hands its work to another; together they close the year’s feedback loops.

L · F · U · S · R · A

Pillars
6 of 6
Handoffs
18 of 18
Loops
17 closed

Handoffs in play

  • F01Universe → Foundry · Admitted mission becomes a cycle project with a decision caseReadiness preparation
  • F02Foundry → Universe · Core Build Report and go or no-go evidenceControlled build
  • F03Foundry → Reports · Sealed observations and indicator series behind a profileCloseout
  • F04Universe → Reports · After-action and scenario findings for chapters 10 and 13After-action review

and 14 more

F01 to F14 are the recorded handoffs of the programme year, each with the artefact that moves and its phase; R1, R2, R3 and R4 carry work around the ring. A loop counts when every pillar on it is selected. Every pillar is led by the Nexus Consortium.
  1. LabsWhere questions become experiments and prototypes: new methods, data and tools are tried in the open, with their limits on record, before the Foundry builds them, under the Nexus Consortium.Labs
  2. FoundryWhere exposure and scenario evidence is built so supervisors, insurers and investors can read it.Sovereign Capital Nexus in FoundryFoundry
  3. UniverseWhere scenarios are tested in controlled exercises, and finance-readiness dialogues read what they mean for capital and cover.Sovereign Capital Nexus in Universeuniverse.nexus
  4. Nexus StandardsWhere disclosure and data rules are codified so risk evidence is comparable for finance and insurance.Finance, Insurance and the Economy in Standardsnexustandards.com
  5. ReportsWhere sector analysis and the finance and insurance readiness series are published, with exposure and limits stated.Sovereign Capital Nexus in ReportsReports
  6. Risk AcademyWhere finance, insurance and public-finance professionals learn to read risk evidence, on Risk Academy.Faculty of Finance and Economics in Academyrisksacademy.com
15Frameworks

What the work is read against.

The platform does not set standards. It reads its evidence against the frameworks that competent bodies have adopted, so a finding can be placed where a decision-maker already works.

Framework or standardBodyWhat it sets
Santiago Principles (Generally Accepted Principles and Practices)International Forum of Sovereign Wealth FundsVoluntary principles on legal basis, objectives, governance, accountability, transparency and investment risk management for sovereign wealth funds
Revised Guidelines for Public Debt ManagementIMF and World BankObjectives, governance, transparency, risk management and market development for public debt managers
Debt Sustainability Framework for low-income countries and the sovereign risk and debt sustainability framework for market access countriesIMF and World BankMethods for assessing debt-carrying capacity, risk of debt distress and sovereign stress across horizons
Common Framework for Debt Treatments and Paris Club principlesG20 and Paris ClubCase-by-case coordination of public bilateral creditors, consensus and comparability of treatment from other creditors
Principles on Promoting Responsible Sovereign Lending and BorrowingUNCTADShared responsibilities of sovereign lenders and borrowers on authorisation, due diligence, transparency and restructuring
OECD Guidelines on Corporate Governance of State-Owned EnterprisesOECDThe state as owner, board independence, disclosure and separation of ownership from regulatory functions
Fiscal Transparency CodeIMFStandards for fiscal reporting, forecasting, budgeting and fiscal risk analysis, including contingent liabilities and public assets
Disaster risk finance layeringWorld BankRetention through reserves and contingent credit for frequent events, transfer through insurance, pools and catastrophe bonds for rare severe ones
Sendai Framework for Disaster Risk ReductionUNDRRPriorities for understanding and investing in disaster risk reduction, including financial protection and risk transfer
Sustainable Development Goal 17 and its indicatorsUnited NationsTargets on domestic resource mobilisation and on helping countries attain long-term debt sustainability
16Consortium

The same field, seen three ways.

GCRI studies a field as science, GRF governs it and GRA builds shared financial understanding of it. Sovereign Capital Nexus links to its counterparts so that work on one side is visible on the others.

19Questions

Questions and answers.

Who publishes Sovereign Capital Nexus?
The Global Risks Alliance (GRA) publishes Sovereign Capital Nexus and is responsible for what it publishes. GRA is a nonprofit business league for the financial services industry. It does not lend, underwrite, rate, invest, advise on or arrange transactions, and readiness work is not approval.
Is Sovereign Capital Nexus active?
Sovereign Capital Nexus is an established platform of The Global Risks Alliance. Information and enquiries are open today. An enquiry receives a reference and names the next step; applications, payments, compute allocations and registrations open only when their team, terms and review capacity exist.
How can I contribute?
Start with the participation paths or write to the contact form. An enquiry receives a reference; it does not create membership, a role or an assignment.
Where are findings published?
Reviewed outputs appear on the publications page, and contributions to the Reports series are listed on Publish in Reports.
Which values on this platform are real?
Indicator names, units, sources, methods and frameworks are real. Levels in figures and canvases are examples in a design. A programme replaces them with labelled evidence it owns.
How do I report an error?
Use corrections and concerns, or write to the integrity concern form. A correction is recorded as a new version, never a silent edit.
Does the platform help sovereign funds find investments?
No. GRA does not recommend, arrange or introduce investments or counterparties, and takes no transaction-based pay.
Is the platform a forum for any government?
No. It builds shared sector understanding. It does not represent or speak for any state, fund or enterprise.
ReportsContribute

Contribute evidence from this page.

Reports is the Consortium’s quarterly publication. What you know about this subject can become evidence, a case or a correction in the next edition, credited to you and published under CC BY 4.0 where it is your own work.

Global Risks AllianceSovereign Capital NexusFinance and Insurance Readiness
How it works

How Sovereign Capital Nexus works.

Choose a view and press Play to follow the platform’s process, its programme year, the standards it applies and how its findings are published. The outline shows how the work is designed to run, not the status of any decision.

Sovereign Capital Nexus

How Sovereign Capital Nexus works

Platforms · Programme year · Standards · Reports

A platform joins a field to named methods, labelled evidence and the outputs it publishes, without becoming the authority it serves.

  1. 01 Scope

    1. 01Field and familiesStart · The platform leadThe home states the field, its families and who it serves.
    2. 02Topic dossiersRecord · Platform authorsTopics explain the subject with labelled evidence.
  2. 02 Evidence

    1. 03Evidence labelsRecord · GCRIEach value is labelled: observed, published statistics, estimated, modelled, scenario or unknown.
    2. 04MethodsStep · Method ownersMethods come from the STEM Commons, each with one canonical page.
  3. 03 Work

    1. 05Scenarios on the systemsModel · Foundry pillarScenarios run on the Nexus systems, labelled as scenario.
    2. 06Standards that applyRecord · Nexus StandardsThe platform names the standards that apply. A validator report is evidence for review.
  4. 04 Publish

    1. 07EditionsRecord · ReportsFindings are published through Reports with their limits.
    2. 08Authority decidesOutcome · The competent authorityDecisions and execution stay with the government, operator or licensed institution.

Sovereign Capital Nexus home · Platforms · Shared methodsAn outline of how the work is designed to run; it does not report the status of any decision or record.

Take part

Take part in Sovereign Capital Nexus.

Start from who you are. Answer an open call. Or form and lead a competence cell on the Sovereign Capital Nexus platform.

Route

National institutions

Ministries, statistics offices and agencies: a national desk and chapter, and a seat in the working groups. National chapters

Route

Sectors and professions

Operators, regulators, banks, insurers and professional bodies whose work touches Sovereign Capital Nexus. Participate

Route

Learning

Courses and practice, with a record of every course completed. Free to study. Open learning

Route

Standards

Draft, review and adopt the methods and data standards with the working groups. Working groups

Route

Communities and research

Universities, civil society and individual experts: projects, data and review. Write to the team

The Global Risks Index

Every figure on this page is indexed: hazards, climate, conflict, the world.

The Index is the Consortium’s indexing system for risk data. Every indicator, hazard, series and country profile carries its Nexus Standards identifier, its source and its licence, so what this page shows can be traced, corrected and reused.

  1. 01 · Sources205 registered sourcesEvery value keeps its source and licence; withheld values are counted.Data and licences
  2. 02 · Nexus StandardsNIS-1 and NHS-1451 indicators, 905 hazards; every record carries a UNI.Nexus Standards
  3. 03 · The Index54 series, 195 country profilesComputed on the standards; no value is published until an edition is released.The Global Risks Index
  4. 04 · This pageSovereign Capital NexusMaps, figures and feeds read the Index in the context of hazards, climate, conflict.Public API
Sources205registered, each with its licence
Indicators451NIS-1, 106 composites, 20 domain indices
Hazards905NHS-1, crosswalked to UNDRR-ISC HIPs
Series54global, sector, strategic, technology, thematic
Country profiles195one site per country

Series in this context hazards, climate, conflict

  1. GLBGlobal SystemsThe state of interdependent global risk: the twenty domain indices aggregated to the world, the five core systems (water, energy, food, health, biodiversity) and their couplings, the global tail register and the gap…NXS-GRX-AR-000002Hazards · Climate · Conflict
  2. THDisaster Risk Intelligence (DRI)Signals, observations, event streams, geospatial layers and scenario packs turned into structured risk intelligence for preparedness and planning.NXS-GRX-AR-000111Hazards · Climate · Conflict
  3. GSGlobal CitiesUrban exposure, heat, flooding, informal settlement, service dependency and the economic weight of cities at risk.NXS-GRX-AR-000068Hazards · Infrastructure · Climate
  4. GSGlobal ClimateChronic and acute physical climate hazard, transition exposure, adaptation gaps and scenario pathways to 2030, 2050 and 2100.NXS-GRX-AR-000065Climate · Hazards · Finance

All 54 series · The 20 domain indices

Country profiles the world

Every country profile carries the source and licence of each value. Correct a value or reply

Hazard domains NHS-1

Geodata and API open

Open layers on an equal-area hexagon grid, shown as densities per km² or as symbols: People · GHSL 2025People · WorldPop 2025Built-up areaPortsAirportsRoadsRailwaysRivers and lake centrelines

/api/v1/public/grix · https://nexustandards.com/uni/{uni}
Developers · Data · Made with Natural Earth, Public domain; GHSL and WorldPop, CC BY 4.0

Snapshot of the Index registries pinned 2026-10-23 · 22c6eed. Research and risk-analytics information: not a rating, an official classification, a warning, a benchmark or advice.

Sovereign Capital Nexus

Bring an exposure or capital question to the Alliance.

Information and enquiries are open today. An enquiry receives a reference and names the next step; applications, payments, compute allocations and registrations open only when their team, terms and review capacity exist.

The Global Risks Alliance

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Our articles, maps and twins are free to read and free to republish. Readers and partners keep it that way.

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Independence

Editors and the expert reviewers named on each article decide what we publish. Funders and partners do not review or approve articles before publication.

Licence

Articles: CC BY 4.0. Figures, maps, twins and data: CC BY 4.0. Other uses: ask through the permissions form.