We are delighted to present the 2024 GSR Scoreboard, the most comprehensive analysis on the Governance, Sustainability and Resilience (“GSR”) practices and efforts of the world’s major State-Owned Investors (“SOIs”), including Sovereign Wealth Funds (“SWFs”) and Public Pension Funds (“PPFs).
The assessment tool was first introduced by Global SWF in 2020 to jointly address important aspects such as transparency and accountability, impact and responsible investing, and legitimacy and long-term survival. Five years later, the system is embraced as a key metric among sovereign and pension funds globally.
The scorecard is designed to be fully independent (as we are not commissioned by anyone to do it), quantifiable (assessing progress over time), and objective (based only on publicly available information). The scoring is based on 25 different elements: 10 related to governance, 10 to sustainability, and five to resilience, which are answered binarily (Yes / No) with equal weight and then converted into percentage points.
The 2024 edition makes two important updates. First, we introduce three new elements around sustainability that seek (i) exclusion lists or engagement policies; (ii) adherence to best practice frameworks such as TCFD or SASB; and (iii) commitment to net-zero goals. In addition, we re-shuffled all elements into sub-categories (see page 12), so that the reader can better follow the rationale and structure of the scoreboard.
This year’s main takeaways include:
Sovereign Investors continue to enhance best practices globally and the average GSR score slightly increased to 61%.
This year, the system was modified to incorporate contemporaneous elements around sustainability, such as adherence to frameworks and commitment to net-zero.
Five out of the 200 institutions achieve a perfect score: Canada’s CDPQ and BCI, Ireland’s ISIF, Singapore’s Temasek and NZ Super.
The Middle East as a region continues to improve, with progress led by Saudi Arabia’s PIF (96% in 2024) and Abu Dhabi’s Mubadala (92%).
There continues to be a positive and strong correlation between best practices and the financial performance of Sovereign Investors in the long run.
The web-based report can be accessed openly at https://globalswf.com/reports/2024gsr. The icon on the top right-hand corner allows to view and print an old-fashioned pdf, which reads best on a two-page view.
