Al-Rumayyan: FII is the engine for global cooperation

During his opening speech, Al-Rumayyan, who is also Chairman of FII Institute, said that FII is the engine for global cooperation with the importance of committing to assets, mainly investing in humanity in a new global order.

Al-Rumayyan noted that various industries like communications, health and retail, among others, are main factors that contributed to global movement, reiterating that the COVID-19 pandemic has contributed to speeding up this industrial movement that led us to utilize available opportunities.

He pointed out that the initiative has developed a framework for governance and social environment for new markets with focus on measuring performance and environmental and social governance on our lives, noting that data is an important factor in the way of dealing with global crises like climate change and that Aramco, for example, managed to develop a new system that will be launched next year to contribute to accommodating gas emissions in a clear way.

Al-Rumayyan also stressed the importance of the world to be open for innovation and the significance for investors to unite to reach long-term ambitions, adding that the Kingdom of Saudi Arabia has managed to develop partnerships with global companies in full harmony to realize sustainability across the world.

He also said that PIF is considered the first sovereign fund to issue a bond under the name of green bonds, noting that the voluntary carbon market is among top markets that have to see united efforts between investors and entrepreneurs to create educational opportunities for the youth in the knowledge economy.

Attias also took the podium in the opening session after a visual presentation on investing in humanity about a survey conducted by IPSOS on 130,000 adults from 13 countries, representing some 50% of the world population, in an attempt by FII Institute to provide visions on top priorities in the world in light of unprecedented social, environmental and identity challenges.

He said: “The initiative has prepared a report on facing global challenges to find solutions, with the participation of thousands of people, where 77% of interviewed people said that they were optimistic with a better future, and that financial safety is among top challenges facing 50% of people around the world, in addition to costs on the income, global warming and climate change, according to the recent survey.

The sixth edition of FII, launched earlier today, sees the participation of a group of Nobel laureates, a number of corporate heads and major investors in an effort to find sustainable solutions to meet the basic needs of the world’s population. Discussions will also focus on challenges posed by the new global order, as well as the opportunities that arise from it, such as the establishment of an economic system that improves the quality of life of citizens around the world. The event will also see a number of mini-summits that will be held as part of the initiative’s activities under the slogan “Clash of Generations”, “The New Energy Economy”, the rise of cryptocurrencies, and the future of Africa.