KUALA LUMPUR, 13 October 2021 – Principal Islamic Asset Management (“Principal Islamic”) laid emphasis on the broad commonality between Islamic and Environmental, Social & Governance (ESG) investing at Principal’s annual Asia Pacific Summit held recently from 22 September until 30 September. Themed “Risk, Resilience, Recovery: Global Markets in Transition”, the summit brought together global business leaders and investment professionals for discussions spanning geopolitical risks and opportunities, resilience in the digital age, and most importantly continued economic progress.
The “The Ethical Investment Demand” session featured a keynote address by Tan Sri Abdul Wahid Omar, Chairman of Bursa Malaysia followed by a panel discussion which dived into the propositions offered by converging Islamic and Environment, Social and Governance (ESG) investment approaches which share many underlying principles. Essentially, with the common universe of values, both Islamic and ESG investing are similar in substance.
According to Kirk West, Executive Director of Principal Global Investors, “I think we are going to see significant ] investment in green investment, it can be green energy, green financing or decarbonization.” The panel notes, with continued momentum by UN-supported Principles for Responsible Investment (PRI), Principles for Responsible Banking (PRB) and Principles for Sustainable Insurance (PSI), all businesses will eventually embrace the Net Zero movement.