Saudi Arabia’s Public Investment Fund (PIF) was placed second globally and on top in the Middle East for Governance, Sustainability and Resilience (GSR) in the Global SWF ranking of the world’s top 100 sovereign wealth funds.
Global SWF, which has offices in New York, London and Singapore and partners and advisors in several other cities including Abu Dhabi, Dubai and Doha, is an industry specialist focused on Sovereign Wealth Funds (SWFs) and Public Pension Funds (PPFs).
Since last year, PIF has climbed five places and scored 96 percent, up from 92 percent, with report indicating that the fund has retained its financial sustainability progress.
Five out of the 200 institutions achieve a perfect score. This includes Canada’s CDPQ (Caisse de dépôt et placement du Québec) and BCI (British Columbia Investment), Ireland’s ISIF (The Ireland Strategic Investment Fund), Singapore’s Temasek and New Zealand’s NZ Super.
The report especially mentioned the Middle East as a region that continues to improve, with progress led by PIF and Abu Dhabi’s Mubadala (92 percent).
Commenting that the rise in ranking 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.”
The GSR Scorecard also underlines PIF’s leading role in addressing climate change. The fund has committed to net zero by 2050 as it aligns with Saudi Arabia’s sustainability targets as a driver of Vision 2030.
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