Global SWF Reevaluates Best Practices of Sovereign Investors; Five Institutions From Canada, Ireland, Singapore, and New Zealand Lead the Pack.
01 July 2024 - 9:00AM
Business Wire
Temasek (Singapore), CDPQ (Québec), BCI (British Columbia), NZ
Super (New Zealand), and ISIF (Ireland) achieve a perfect score
around Governance, Sustainability and Resilience issues.
Today, Global SWF published the 5th edition of its GSR
(Governance, Sustainability, and Resilience) Scoreboard, which has
become the measuring stick of best practices among State-Owned
Investors. The report is publicly available on
www.globalswf.com/reports/2024gsr
The annual exercise analyzes the world’s 200 largest Sovereign
Wealth Funds and Public Pension Funds, which manage US$ 27.5
trillion on behalf of 80 countries. The assessment is based on 25
different elements that are answered binarily based on public
information only. This year saw the following results:
- Sustainability scores continued to improve globally, when
compared to 2023 – yet, the average score in Governance (77%) is
still much higher than that in Sustainability (51%) and in
Resilience (50%).
- Five entities with different mandates got full marks: two
Canadian pension managers (CDPQ, BCI), a European strategic fund
(ISIF), and two Asia-Pacific state-owned investors (Temasek, NZ
Super).
- The Middle East as a region continues to improve, and the
average score has gone up by 16% since 2020 with progress led by
Saudi Arabia’s PIF (96% in 2024) and Abu Dhabi’s Mubadala
(92%).
- There continues to be a positive and strong correlation between
best practices, as measured by Global SWF’s GSR scores, and the
financial performance of Sovereign Investors in the long run.
Dilhan Pillay Sandrasegara, Executive Director and CEO of
Temasek Holdings, commented: “We are humbly honoured to receive
this recognition as one of the top-scoring investors for the second
year running. Global SWF’s independent assessment to address key
areas such as transparency and accountability, impact and
responsible investing, and long-term survival is aligned to
Temasek’s focus on governance, sustainability and resilience. We
look forward to an increased level of engagement and sharing of
best practices amongst our global peers as we endeavour to
contribute towards a better, more sustainable and inclusive
world.”
Gordon J. Fyfe, BCI’s CEO and CIO, added: “Amid an increasingly
complex global investment landscape, strong governance and
responsible investing practices have become imperative to deliver
long-term, sustainable returns for our clients and their
beneficiaries. This recognition reflects more than two decades of
dedication to excellence in achieving our mandate, and the
commitment of our world-class team. We are proud to be among
leading global investors and look forward to continuing to support
best practices across the industry.”
Jo Townsend, CEO of the Guardians of New Zealand Superannuation,
stated: “The Guardians has long believed that good governance, a
commitment to sustainable investment principles, and policies and
processes that support a resilient organisation are fundamental to
our success as a long-term investor. The big improvement in scores
this year suggests more and more funds are adopting this way of
thinking. That’s encouraging for the industry – but also challenges
us to find new ways to improve our own performance.”
Nick Ashmore, Director of ISIF, said: “We welcome this
recognition from Global SWF which aligns with ISIF’s endeavours to
be a responsible investor, actively integrating ESG factors into
its decision-making processes with a view to enhancing the overall
outcomes for the Fund and ultimately its beneficial owner. ISIF
often looks to its peers for learnings in best practice and being
able to benchmark itself in this respect, as well as sharing the
pursuit of common goals for the improvement of the investment
landscape, which is important in ensuring it has a positive
impact.”
Diego López, Founder and Managing Director of Global SWF,
concluded: “The GSR Scoreboard is the only objective, quantitative,
and independent evaluation of best practices among Sovereign
Investors, and we are fully committed to contributing to the
advancement of the industry. These institutions are very
heterogenous by nature, but there is a reduced number of them that
are leading the way when it comes to best practices and positive
change.”
The report will be officially presented at an in-person event in
New York City, on Thursday, July 11. Parties interested in
attending can contact the representatives of Global SWF for further
details.
About Global SWF Global SWF LLC, which turns six years
old today, promotes a better understanding of and connectivity into
state-owned investors through the most comprehensive platform of
data and research on these global funds. The firm also provides
consulting services and an executive education program, the SWF
Academy, for professionals working at sovereign and pension funds.
For more details, please visit www.globalswf.com
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version on businesswire.com: https://www.businesswire.com/news/home/20240630428719/en/
Global SWF Diego Lopez +19293011895 / +6590702552
diego.lopez@globalswf.com