PIF ranks second globally for Governance, Sustainability and Resilience
Newswire
01
July
2024
Riyadh, KSA- Global SWF’s GSR Scorecard places PIF joint second worldwide and first in the Middle East
- This signifies the Fund’s commitment to sustainability in Saudi Arabia and around the world, says PIF’s Acting Head of Sustainability and Stewardship
- Results also underline PIF’s leading role in addressing climate change
PIF has emerged joint second globally and top in the Middle East for Governance, Sustainability and Resilience (GSR) in a ranking of the world’s top 100 sovereign wealth funds by Global SWF, which is focused on sovereign investors and pension funds.
Since last year, PIF has climbed five places and scored 96%, up from 92%, with Global SWF’s report indicating that the Fund has retained its financial sustainability progress. This highlights PIF’s role as an impactful and responsible investor, with best-in-class practices focused on sustainability, transparency, ethics and good governance.
Hawazen Nassief, Acting Head of Sustainability and Stewardship at PIF, said: “PIF strongly believes in leading by example when it comes to transparency, sustainability, ethics and good governance, as they play a crucial role in meeting our mandate for sustainable growth.
“PIF’s outstanding results in the GSR ratings, showcasing our dedication to continued improvement and best-in-class practices in sustainability, signify PIF’s commitment to its mission in Saudi Arabia and around the world.”
Global SWF’s GSR Scorecard also underlines PIF’s leading role in addressing climate change. Indeed, the Fund has committed to net zero by 2050 as it aligns with Saudi Arabia’s sustainability targets as a driver of Vision 2030, the transformation blueprint that is diversifying the national economy.
