Saudi Arabia-based asset manager with responsible investment approach to Islamic finance joins RFI Foundation
RFI Foundation is pleased to announce the membership of SEDCO Capital as an industry member. SEDCO brings a strong commitment to responsible finance that builds on its long track record as a Shari’ah compliant investment manager. As the first Islamic asset management firm to become a signatory of the UN-supported Principles for Responsible Investment, SEDCO has demonstrated the alignment of Islamic finance and responsible investment through integration of environmental, social and governance (ESG) data in a Shari’ah compliant approach.
Commenting on SEDCO’s membership, its CEO Hasan Al Jabri said: “The work that the RFI Foundation is doing aligns closely with our Prudent Ethical Investing (PEI) approach and we are excited to support wider awareness of the similarities between traditional responsible finance and Islamic finance. Coming from an Islamic finance perspective, we have tried to learn from the ESG approach, as well as to share the knowledge we have built about the ways in which the values from the Shari’ah positively affect our investment approach”.
SEDCO Capital is one of only a few firms globally offering a full range of sophisticated services in asset management, including asset allocation, real estate, private equity, public equity, liquidity instruments, agriculture, timber, and commodities that conform to Shari’ah. It is now emerging as a pioneer in combining ESG investment standards along with its Shari’ah fundamentals in many of its investments
Commenting on the membership, Blake Goud, the CEO of the RFI Foundation said: “As we work to raise awareness across the responsible finance industry about Islamic finance, it is valuable to have the support of one of the first Islamic asset managers who have brought traditional responsible investment and the ESG approach together. They have demonstrated that an ESG approach is useful alongside additional screens to deliver the values core to Islamic finance in a financially sustainable way.”
The activities of the RFI Foundation will support greater convergence between Islamic and traditional responsible finance in the coming years. In doing so we aim to cultivate a financial sector that is inclusive and responsive to society and supportive of equitable, inclusive and sustainable economic growth.
