PIF appoints 5 banks to set environment, social framework: sources

07/09/2021 Argaam

Logo of Public Investment Fund

The Public Investment Fund (PIF) appointed five global banks to set environmental and social framework, CNBC Arabia reported, citing banking sources.

 

These banks are Goldman Sachs Group, HSBC, Standard Chartered, Credit Agricole and Deutsche Bank AG.

 

The step underpinned the PIF’s endeavors to enhance environment-friendly investments.

 

In July, PIF said it was considering its first issuance of green bonds by the fourth quarter of 2021. The issuance came as part of the fund's plan of shifting towards injecting liquidity into environment-friendly investments, data compiled by Argaam showed.

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