Home Industry Finance Saudi wealth fund plans green bond, works with BlackRock on ESG The kingdom is looking to boost its environmental credentials by Bloomberg September 22, 2021 Saudi Arabia’s $430bn sovereign wealth fund plans to announce its first green debt issuance and is working with BlackRock on a framework incorporating environmental, social and governance principles. The Public Investment Fund will announce the green issuance “very soon,” Governor Yasir Al-Rumayyan said in a virtual event on Tuesday. “We’re working with many partners from all over the world, domestically and internationally, to have a better ESG compliance to all the things that we do,” Al-Rumayyan said. The oil-rich kingdom is looking to boost its environmental credentials and this month appointed HSBC Holdings and JPMorgan Chase & Co. as joint structuring agents for its sustainability financing framework. The PIF, as the wealth fund is known, has also hired five international banks as members of an ESG panel for its medium-term capital-raising strategy, according to Reuters. Tags BlackRock ESG Green Debt Issuance Public Investment Fund 0 Comments You might also like Saudi Arabia’s PIF, stc Group to create region’s largest tower company Red Sea International Airport to receive its first flight from Dubai Saudi-backed Lucid Group to raise $1bn from PIF affiliate Saudi Arabia “plans” $40bn push into artificial intelligence