The Public Investment Fund (PIF) ranked seventh globally and first in the Middle East among 100 sovereign wealth funds according to Global SWFs Governance, Sustainability and Resilience (GSR) rating.
The rating is a testament to the fund’s commitment to strong governance and sustainability.
Commenting on the PIF’s ranking, Chad Richard, the fund’s Head of Strategy Development and Innovation said that PIF has led the way in supporting the clean energy transition globally.
The Kingdom’s sovereign wealth fund held the largest every voluntary carbon credit auctions globally with 3.6 million credits sold to international companies.
The PIF was also the first sovereign wealth fund to issue green bonds, including the first-ever century green bond, with a combined value of $8.5 billion. It is also the first fund in the region to commit to targeting net zero by 2050, Richard added.
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