London:- The Future Investment Initiative (FII) Institute revealed today the comprehensive rating methodology for investment in environmental, social, and corporate governance, which aims to enrich and accelerate investments in environmental, social, and corporate governance in emerging economies.
This came during the FII-organized Environmental, Social and Corporate Governance (ESG) Summit in Emerging Markets, held at the Rosewood Hotel in London, with the participation of Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF) and Chairman of the Board of Directors of FII Institute, experts, heads of corporations and officials from 40 countries.
Richard Attias, CEO of FII Institute, said in a statement: “Our work at the FII is focused on raising awareness about the weaknesses in the current standards for investment in the environment, society and governance, and their impact on global sustainability prospects, and calling for a comprehensive and equitable application of environmental and social and corporate governance, by stimulating actual action by major key players around the world”.
He added that the "comprehensive rating framework and methodology for investment in environmental, social and corporate governance" were developed in partnership with Ernst & Young, to provide unbiased ratings to companies in emerging markets, with a focus on sectoral challenges rather than country risks, to ensure the achievement of the principle of fair competition between companies in both emerging and developed markets”.
During the summit, an investment of €500,000 was announced in Timbeter, one of the leading companies in green technology, specializing in timber metering.
Moreover, an introductory document on investing in environmental, social, and corporate governance has been released, calling on investors, governments, and companies in emerging markets to step up their efforts and improve performance The initiative also called on investors to publicly pledge to increase the share of capital allocated to emerging markets from less than 10% to a minimum of 30% of allocated and invested capital, by 2030 and urged governments to encourage companies based in emerging markets to become more active in disclosing relevant information through its regular reporting channels.