Saudi Arabia’s Public Investment Fund (PIF) retained its top position in the Middle East and rose to tie for second globally in the 2024 Governance, Sustainability, and Resilience (GSR) Scoreboard by Global SWF, improving its score to 96% from 92% last year. PIF also led globally in capital deployment over the past five and a half years.
Chad Richard, PIF’s head of strategy development, emphasized the fund’s commitment to clean energy and sustainability. PIF conducted the largest voluntary carbon credit auctions and issued an $8.5 billion century green bond, pledging net-zero emissions by 2050.
Despite 2024’s challenges, Middle Eastern funds improved their sustainability rankings, with PIF significantly advancing from 28% in 2020 to 96%. PIF’s 2023 revenues reached SR331 billion ($88.3 billion), growing over 100% from 2022. The fund earned an A1 rating from Moody’s and an A+ rating from Fitch, confirming its robust financial health.