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

The Mohammed VI Fund for Investment (FM6I) officially signed the Principles for Responsible Investment (PRI) Declaration, on the sidelines of the conference of the parties to the un framework convention 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 the Fund in a 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 Program 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, explains the press release.

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,” FM6I Managing Director Mohamed Benchaaboun was quoted as saying 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.”
Delegates from around the world gathered in Dubai for COP28 held from November 30 to December 12.