The state-owned asset management company Public Investment Corporation (PIC) was ranked among the top 30 sovereign wealth and asset management funds in the world in the 2021 index by the Responsible Asset Allocator Initiative (RAAI) developed by the independent US public policy think tank New America in partnership with the Fletcher School at Tufts University.

The managers are distinguished by their commitment to responsible and long-term investment, the integration of environmental, social and governance (ESG) risks into their portfolio decision-making process and their leadership in taking into account the preferences of savers on key issues, such as climate change, gender equality, fair labor practices, sustainable infrastructure, education and healthcare, New America said in its RAAI 2021 Leader List.

The RAAI analyzes and rates approximately 250 sovereign wealth funds and government pension funds, with approximately $ 26 trillion in assets, on their responsible investment practices.

“The PIC welcomes the RAAI’s recognition of responsible investment. The PIC integrates ESG into all of its investment decisions.

“The CIP is a signatory to the United Nations Principles for Responsible Investment and the United Nations Global Compact, subscribes to the Code for Responsible Investment in South Africa and applies the King IV codes on good governance,” said the PIC in a November 23 press release. .

The CIP requires all companies that invest to take into account the United Nations Sustainable Development Goals (SDGs), including good corporate governance, ethics and the social and environmental impact of their decisions and commercial operations.

“PIC’s ESG teams explore the core of controls, sustainability strategy, social responsibility intent, transformation, empowerment and, ultimately, their commitment to corporate stakeholders. investment companies. This informs PIC’s investment decisions and how it votes on proposals, including executive compensation, transformation and senior management appointments, at annual general meetings of investment companies, ”said he declared.

The RAAI focuses on mobilizing capital from the world’s largest asset distributors towards responsible investing and achieving the United Nations SDGs. The RAAI Index analyzes how the world’s largest long-term investors, including sovereign wealth funds and government pension funds, develop strategies to manage critical ESG issues according to ten core principles and 30 detailed criteria.

The first group of asset allocators to achieve leader and finalist rankings sets a global standard for responsible investing leadership and provides a benchmark of excellence for the entire investment community to follow, has declared New America.

“Responsible investing is an essential part of solving the complex challenges facing the world today, and global asset distributors have the capacity to make a significant difference. By releasing this biannual index, our primary goal is to raise capital through systemic change for one world, ”the think tank said.