COP28: Mohammed VI Fund for Investment Signs Principles for Responsible Investment

The Mohammed VI Fund for Investment (FM6I) officially signed the Principles for Responsible Investment (PRI) declaration on November 30, on the sidelines of the 28th Conference of the Parties on Climate Change (COP28).

This voluntary initiative demonstrates the commitment of the Fund, the first signatory in the “Asset Owner” category in Morocco, to promoting responsible and sustainable investment practices, says a FM6I press release.

Launched in 2006 by the United Nations’ Secretary-General and a group of 20 institutional investors, with the coordination of the United Nations Environment Programme Finance Initiative (UNEP FI) and the United Nations Global Compact, the PRI is a set of principles designed to guide investors in integrating environmental, social and governance (ESG) considerations into their analysis, investment decisions, shareholder practices and reporting processes, according to the same source.

FM6I’s adherence to the PRI is in line with its ESG strategy, which aims to support sustainable growth through a rigorous ESG risk management policy, on the one hand, and, on the other, support for the companies in which the fund invests in their energy transition and sustainable management of natural resources, social inclusion – particularly of women and young people – and the principles of good governance.

“By signing the PRI, FM6I reinforces its commitment to sustainability and responsibility. We firmly believe that taking ESG issues into account in all of the Fund’s activities is not only essential for generating long-term returns, but also for making a positive contribution to society and the environment,” stressed FM6I Managing Director Mohamed Benchaaboun, quoted in the press release.

For his part, PRI CEO David Atkin declared: “We are delighted to welcome FM6I as a new PRI signatory. Responsible investment is an essential component of asset management, particularly for sovereign wealth funds. By integrating such practices into their business, investors are better able to manage their long-term commitments, meet the needs of their beneficiaries and contribute to a sustainable future for us all. We look forward to working with FM6I.”

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