How PIF is shaping a more sustainable future

Global Insights
25 August 2022 London
  • PIF is developing an environmental, social, and governance (ESG) roadmap with an inclusive approach
  • The Fund is backing long-term investments that deliver on Saudi Arabia’s goals, says Hawazen Nassief, PIF’s Acting Head of Sustainability and Stewardship
  • Sustainability is “at the heart” of the nationwide Vision 2030 roadmap

As a prime catalyst for meeting the goals of Vision 2030, the sustainable roadmap for the future of Saudi Arabia, the Public Investment Fund (PIF) is investing in opportunities across diversified sectors, informed by environmental, social, and governance (ESG) principles. This commitment reflects the country's wider aim of being an international trailblazer in sustainability.


“We are currently working on our ESG roadmap, which will design our activities over the next few years and position us as a leading ESG investor, globally," says Hawazen Nassief, Acting Head of the Sustainability and Stewardship Department at PIF.


“ESG is not something new to PIF. It's something that is part of the fund's DNA. However, we are drawing a framework that will allow us to follow best practices in terms of disclosures, and more transparency according to international best practices."


This strategy will result in better long-term ESG management, says Nassief: opportunities and portfolio performance can be maximized, and sustainability targets that are relevant to Saudi Arabia can be achieved.


PIF is taking a variety of factors into consideration – from company size and maturity, to geographical location – in its inclusive approach to a future-focused ESG framework. Meanwhile, many PIF-led companies, such as the giga-projects, are being designed with sustainability at their core. “We take a very customized, inclusive approach to our companies, which ensures that we help these companies perform better over the years," says Nassief.


This approach, which takes into account individual needs, will ensure no company is left behind. It embraces inclusion, and key issues that are of paramount importance today, such as health and safety, combined with a future-forward focus.


“We don't do ESG because everyone else is doing it, we don't do it because it's cool or because it's what people are talking about today," says Nassief. “It really is embedded in everything we do – and PIF was created to support the sustainability of the country. Part of the reason we are doing this is to align with Vision 2030, which is, in essence, a sustainability vision. Our approach is always about bringing everyone along in this journey towards a more sustainable world."