Environment Fund Commits To Global Investment Standards For Enhanced Transparency

The Environment Fund (EF) has announced its compliance with the Global Investment Performance Standards (GIPS®) from the Chartered Financial Analyst (CFA) Institute. This move aligns with EF's dedication to implementing top global practices in investment performance, ensuring transparency in all its activities.

The GIPS standards, introduced in 1999, are voluntary global standards based on full disclosure and fair representation of investment performance. The CFA Institute administers these standards worldwide, with over 1,700 firms and asset owners across 48 markets adopting them. The Environment Fund is among the first Asset Owners in Saudi Arabia and the region to claim compliance with these standards.

Muneer Al-Sahli, EF's Acting Chief Executive Officer, stated: "The Environment Fund's compliance with the Global Investment Performance Standards (GIPS®) reflects the fund's commitment to apply best practices in Asset Management and provide investment performance reports to the Board of Directors and stakeholders in accordance with best practices globally which are based on the principles of transparency and full disclosure."

Taghreed Alhurasen, EF's Chief Investment and Treasury Officer, emphasized the importance of this compliance: "The Environment Fund is committed to continuously achieving the highest levels of efficiency in managing its investments. Complying with these standards is an indicator of the quality of governance procedures, performance measurement systems, and risks associated with investment portfolios."

The President of CFA Society Saudi Arabia, Fahad Kordi, praised EF's decision: "We applaud the Environment Fund for making the voluntary decision to comply with the GIPS® Standards and being among the first Asset Owners in Saudi Arabia and the region to claim compliance with the Standards, which contributes to the development of the investment industry in Saudi Arabia."

Vision 2030 Goals

The Environment Fund was established to support Saudi Arabia's Vision 2030 by contributing to financial sustainability in environmental and meteorology sectors. It aims to provide resources for development through optimal capital investment, support environmental programs and initiatives, promote eco-friendly technologies, enhance environmental performance programs, and support operational budgets for environmental centers.

This announcement underscores EF's ongoing commitment to transparency and best practices in all its investment activities. By adhering to GIPS standards, EF sets a benchmark for other asset owners in Saudi Arabia and beyond.

With inputs from SPA