Growthfund’s first Sustainability Report

Growthfund has published its first Corporate Sustainability Report, prepared in accordance with the GRΙ 2021 standards and TCFD recommendations for climate disclosures, while also taking into account the 10 fundamental principles of the UN Global Compact and the 17 Sustainable Development Goals (UN SDGs). The report includes the outcomes of Growthfund’s first Materiality Analysis, which was conducted in 2022.

In its dual role as an asset manager and investor, Growthfund is proceeding with the implementation of a sustainability strategy and actively aims to incorporate ESG criteria into its own day-to-day operations and those of its subsidiaries. Through the preparation and publication of its first Sustainability Report, Growthfund is participating in and promoting the responsible and systematic disclosure of non-financial information and the potential impact and/or effects of an organization’s operations in terms of Environment, Society, and Governance (ESG) issues.

Specifically, using 2021 as its base year, Growthfund measured its carbon footprint for Scope 1 and 2 emissions, and became a proud member of the One Planet Sovereign Wealth Funds (OPSWF) network and a supporter of the TCFD recommendations. It has also prepared and published an Expectations Document on Climate Change, addressed to the companies in its portfolio. At the same time, as part of its 2022-2024 Strategic Plan, Growthfund is monitoring the Trust Index, which concerns the strengthening of citizens’ trust, and it is proceeding with the implementation of customer/citizen-focused pilot projects in collaboration with its subsidiaries. Furthermore, Greece, through Growthfund, achieved a GSR score of 60% on the Global SWF Scoreboard, ranking 28th among 100 countries in terms of progress related to governance and resilience of state-owned investment funds.

In her introduction to the report, Growthfund’s Chief Communications & Sustainability Officer, Anthi Trokoudi, notes that “the first Sustainability Report is an important milestone for Growthfund. It reflects our efforts to create positive contributions not only to society and the environment, but also to corporate governance through our commitment to transparency and accountability. In this light, we welcome any comments on this report and its results from all stakeholders as we work towards continuous improvement.”