SSIF hosts forum on sustainable investment practices

AMMAN — The Social Security Investment Fund (SSIF) on Tuesday held the sixth forum for representatives of the Social Security Corporation in boards of directors of companies that the SSC owns shares in, titled: “Corporate, social and environmental governance”.

Inaugurating the event, which was held in cooperation with Jordan Institute of Directors and the International Finance Corporation (IFC) of the World Bank Group, SSIF CEO Kholoud Saqqaf said that the fund is keen on benefiting from the expertise of international institutions to encourage the adoption of responsible and sustainable investment practices, the Jordan News Agency, Petra, reported. 

Saqqaf noted that these forums are part of the ongoing process to develop the expertise of representatives, acquaint them with the expertise of global companies and the best practices related to sustainable development and green economy, and the impact of commitment to corporate, social and environmental governance on the financial and operational performance of companies. 

She also highlighted the importance of adopting a “clear mechanism” to assess the application of such practices to benefit from feedback in developing future plans in a bid to guarantee the sustainability of companies’ investments and businesses.

IFC's Country Manager for the Levant Region Abdullah Jefri said that adopting environmental and social practices and corporate governance are so important for private sector companies that seek to enhance their competitive capabilities, noting that the IFC has played a significant role in this regard.

The forum sessions went over the importance of companies to shift to green investment that take into consideration the climate change and encourage the use of renewable energy, global standards for corporate, social and environmental governance and its impact on companies, the society and the environment, in addition to the importance of boosting the economy and the competitive advantages of the investment environment.