20250904 Pif Ar24 Public English Interactive Pdf · Page 43

Sustainability Review
Reinforcing its ambition to be among the most 
impactful global investors and achieve net-zero 
by 2050, PIF developed its Net-Zero Transition 
Strategy, building on its established greenhouse 
gas emissions baseline across all investments. 
At the Saudi Green Initiative (SGI) Forum in 
December, held alongside the United Nations 
Convention to Combat Desertification (COP16) 
in Riyadh, PIF expanded its participation, with 
14 portfolio companies engaging in discussions 
on climate action, emissions reduction and 
ecosystem preservation – double the previous 
year’s representation.
Further demonstrating its commitment to 
sustainable investment, PIF introduced the 
Sustainability Award at the Partners Forum, 
recognizing outstanding environmental and 
social contributions within its portfolio. ACWA 
Power and Ma’aden received the inaugural awards, 
reflecting PIF’s drive to embed sustainability 
across its investments and accelerate meaningful 
change. 
Driving Global Climate Action through  
OPSWF Leadership
As a founding member of the One Planet 
Sovereign Wealth Fund (OPSWF) and co-leader 
Investing Sustainably and Increasing Impact
Sustainability remains central to PIF’s long-term strategy, aligning with Saudi 
Vision 2030 and its own 2021-2025 roadmap. As one of the world’s largest and most 
influential sovereign wealth funds, PIF integrates sustainability into every aspect of 
its investment approach, balancing long-term value creation with environmental 
and social responsibility.
of the clean hydrogen workstream, PIF plays a 
pivotal role in advancing global climate action. 
In December, PIF hosted the seventh Annual 
OPSWF CEO Summit in Riyadh – the first time the 
event was held in Saudi Arabia. 
This landmark gathering brought together 
key global leaders including French President 
Emmanuel Macron, marking his first attendance 
at the event outside France, alongside former 
U.S. Secretary of State John Kerry, World Bank 
President Ajay Banga and sovereign wealth 
fund heads from the UAE, Qatar, Nigeria, Egypt, 
Ireland, Kuwait, New Zealand and Greece. Senior 
officials from the Saudi and French governments 
also participated, reinforcing PIF’s leadership in 
driving international collaboration on sustainable 
investment.
By convening policymakers, financial leaders 
and sustainability experts, PIF strengthened its 
position as a catalyst for meaningful climate 
action, shaping the global agenda on responsible 
investment and the clean energy transition.
Advancing PIF’s Net-Zero Transition Strategy
PIF continued to advance its Net-Zero Transition 
Strategy, aligning with Saudi Arabia’s Circular 
Carbon Economy Framework and supporting 
Saudi Vision 2030’s target to reduce annual 
emissions by 278 million tons of carbon dioxide. 
Building on the groundwork of Phase I which 
established a greenhouse gas emissions baseline 
in 2023, Phase II focused on defining a clear 
decarbonization pathway for PIF’s portfolio.
This phase refined emissions data, benchmarked 
global best practice and projected future 
emissions to develop a structured transition 
roadmap. The strategy outlines both short- and 
long-term decarbonization initiatives, ensuring 
alignment with national climate goals while 
fostering synergies across PIF’s investments. 
Guided by net-zero transition principles, PIF 
prioritizes value creation while driving Saudi 
Arabia’s shift toward a low-emissions economy.
PIF achieved a 30% reduction in gr