The Public Investment Corporation (PIC) has welcomed a Responsible Asset Allocator Initiative (RAAI) survey that ranked the corporation amongst the top 30 global sovereign wealth funds and asset managers for their responsible investment practices.
The annual survey acknowledges the PIC’s commitment to incorporate ESG principles – Environmental, Social impact and Governance – into all its investment decisions.
The PIC, as a signatory of both the United Nations Principles for Responsible Investments (UNPRI) and the United Nations Global Compact (UNGC), subscribes to the Code for Responsible Investment in South Africa (CRISA) and applies the King IV codes on good governance.
In a statement on Tuesday, the PIC said it requires all investee companies to consider the UN Sustainable Development Goals (SDGs), including good corporate governance, ethics and the social and environmental impact of their business decisions and operations.
ESG teams delve into the core of investee company controls, its sustainability strategy, its social responsibility intent, transformation, empowerment and, ultimately, its commitment to all stakeholders.
“This informs the PIC’s investment decisions and how it votes on proposals (including on executive remuneration, transformation and top management appointments) at the Annual General Meetings of investee companies,” it said.
The annual RAAI study, is developed in partnership with the Fletcher School at Tufts University in the US, and in 2021 rated and ranked 251 asset allocators from 63 countries with assets of US$26 trillion. – SAnews.gov.za