(Adnkronos) - RIYADH, Saudi Arabia, Oct. 25, 2023 /PRNewswire/ -- At the Future Investment Initiative (FII) in Riyadh today, a global summit, leaders and investors have today resolved to tackle ESG shortcomings in the form of a Resolution to Increase ESG Investment in Emerging Markets
The Resolution to Increase ESG
Emerging markets are home to 86% of the world's population and responsible for 58% of global GDP, yet they receive less than 10% of all ESG investments. As the growth engine of the future this is far from the scale necessary for sustainable growth and insufficient to meet the $2.5 to $3.7 trillion annual investment gap needed to address the UN's Sustainable Development Goals (SDGs) in developing countries.
Recognising current limitations of ESG data tools, the Resolution calls for:
The FII Institute will continue to use its convening power to promote the agenda of inclusive ESG in PRIORITY Summits around the world to exhort government and the private financial sector to meet this challenge.
Richard Attias, CEO of the Future Investment Initiative Institute said:
"A bias at the centre of the world's most dominant ESG ratings is taking $trillions away from developing markets, which are the growth engines of the global economy. Existing ESG data tools discriminate against tme in favour of developed markets. If they are to ever fulfil their original purpose of powering a more sustainable future, we need widespread adoption of inclusivity, so ESG truly benefits every country, every region, and the entire world."
About FII Institute
The Future Investment Initiative (FII) Institute is a global nonprofit foundation driven by data with an investment arm and one agenda: Impact on Humanity. Global and inclusive, we foster great minds from around the world and turn ideas into real-world solutions in four critical areas: Artificial Intelligence (AI) & Robotics, Education, Healthcare and Sustainability.
Photo - https://mma.prnewswire.com/media/2257115/ESG_Resolution_PR.jpgLogo - https://mma.prnewswire.com/media/1811613/4361794/FII_Institute_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/future-investment-initiative-institute-resolves-to-remove-5-4-trillion-investment-gap-in-emerging-markets-301966955.html
