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ESG

Malaysia’s KWAP becomes PRI signatory

Malaysia's Kumpulan Wang Persaraan pension fund for public officials will sign on to the United Nations-supported Principles for Responsible Investment.

KWAP, the country's second-largest retirement fund with 125 billion ringgit ($32.1 billion) in assets, announced its move in a news release on Monday that it "holds a strong belief that by integrating ESG practices into investment activities, sustainable risk-adjusted returns can also be generated while enabling KWAP to meet the fund's obligations at an optimum level."

The pension fund will become a signatory to the principles, which the UN launched in 2006 as a framework for asset owners like KWAP to demonstrate their commitment to sustainable investing, at a ceremony on Wednesday.

KWAP's corporate-level guidelines for environmental, social and governance investing are posted on its website.

KWAP officials could not be immediately reached to provide further information.