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Article

13 Jul 2021

Author:
Yousef Saba & Davide Barbuscia, Reuters

Saudi sovereign wealth fund asks banks to help it develop environmental, social & governance framework to attract investors

"Saudi sovereign wealth fund scopes banks for ESG framework-Sources" 12 July 2021

Saudi Arabia's sovereign wealth fund has asked banks to help it develop an environmental, social and governance (ESG) framework, four sources said, a move that could allow it to expand its funding base to attract ESG-focussed investors.

The Public Investment Fund (PIF) sent a request for proposals to banks last month, said the four sources with direct knowledge of the matter, speaking anonymously because the matter is private.