5 banks on Saudi PIF’s ESG panel
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has hired five international banks as members of an environmental, governance and social (ESG) panel for its medium-term capitalraising strategy, IFR News reported.
The Gulf has seen a surge of interest in ESG-related initiatives and deals amid growing awareness among global investors about ESG risks.
Capital raisings
Credit Agricole, Deutsche Bank, Goldman Sachs, HSBC and Standard Chartered were hired to advise the investment fund’s global capital finance division on an ESG framework for public market capital raisings, IFR, a fixed income news service owned by Refinitiv, reported. IFR also said that the Saudi finance ministry hired HSBC and JPMorgan as structuring agents for the kingdom’s sustainability financing framework.