Public Investment Corporation ranked among top 30 responsible global investors
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The Public Investment Corporation (PIC) said this week that it welcomed the recognition by the Responsible Asset Allocator Initiative (Raai) for responsible investing, whose 2021 survey ranked the PIC at number 25 among the top 30 global sovereign wealth funds and asset managers for their responsible investment practices.
The PIC manages more than R2 trillion in investments on behalf of public servants. Earlier this month a new board was appointed to the entity after the term of the interim board came to an end on October 31.
The study rated 251 asset allocators from 63 counties with assets worth $26 trillion (R412 trillion)
The annual survey acknowledged the PIC’s commitment to incorporate ESG principles – environmental, social impact and governance – into all its investment decisions. The PIC is a signatory of both the UN Principles for Responsible Investments and the UN Global Compact , it subscribes to the Code for Responsible Investment in South Africa and applies the King IV codes on good governance.
The PIC said it required all investee companies to consider the UN Sustainable Development Goals, including good corporate governance, ethics and the social and environmental impact of their business decisions and operations.
BUSINESS REPORT ONLINE