PNB named top Malaysian sovereign investor, 17th globally in global SWF rankings
The GSR Scoreboard has become the measuring stick of best practices among state-owned investors around the world. It evaluates more than 200 sovereign wealth funds (SWF) and public pension funds worldwide on governance practices, sustainability commitments and institutional resilience.
In a statement today, PNB said it received an overall score of 84 per cent, including a perfect 10 out of 10 for sustainability, in recognition of its climate targets, environmental, social and governance (ESG) integration, and transparency in reporting.
"The ranking reflects the significant progress PNB has made in strengthening governance, embedding sustainability across its investment processes, and enhancing its long-term institutional resilience," it said.
PNB deputy president and group chief executive Datuk Rick Ramli said the ranking reflects the fund's ongoing efforts to incorporate responsible and sustainable practices in its operations and investment activities.
"It is also a strong encouragement for us to continue pushing for long-term value creation for our unit holders and the wider Malaysian economy, in line with PNB's purpose of uplifting the financial lives of Malaysians across generations," he said.
PNB said that notable progress includes a 98 per cent reduction in Scope 1 and 2 emissions from its 2022 baseline, in line with its target to achieve net zero operations by 2025.
On portfolio-level targets, PNB has pledged to achieve a net-zero investment portfolio by 2050 and has so far channelled RM5.5 billion into green and transition assets, representing 55 per cent of its RM10 billion target by 2030.
PNB has also implemented a living wage policy for its employees since 2023 and is now encouraging its investee companies to adopt similar practices under the government's GEAR-uP initiative.
-- BERNAMA
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