KWAP allocates RM800m for ESG initiatives

KUALA LUMPUR: Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has set aside RM800 million to be invested in international environmental, social and governance (ESG) initiatives through two fund managers.
Speaking at a press conference today, KWAP CEO Datuk Wan Kamaruzaman Wan Ahmad said to date, RM520 million has been managed by external fund managers for both local and international ESG investment.
“In total, we have RM3.8 billion ESG funds and of that amount, RM3.3 billion is local ESG.
“We still have not outsourced the full amount to the external fund managers yet and will continue with the exercise going forward,” he said.
Earlier, when launching KWAP’s inaugural Environmental Conference, Wan Kamaruzaman said the company remains committed to supporting and promoting the use of ESG investment programmes, incorporating measures to provide full transparency for investors.
The two-day event hosted by KWAP together with World Wide Fund for Nature has attracted over 400 delegates from 200 organisations including regulatory and government bodies, financial institutions, corporates and civil society organisations.
Themed “Igniting Action for a Better Tomorrow”, the conference is aimed at inspiring the financial community to lead global action on the climate and environment. – Bernama