Founded in 2007, China Investment Corporation (CIC) is a sovereign wealth fund operating through three subsidiaries: CIC International, CIC Capital and Central Huijin. While CIC International and CIC Capital are market-oriented commercial entities with a specialised mandate and global reach, Central Huijin makes equity investments in key state-owned financial institutions. CIC is headquartered in Beijing, China and has two overseas branches in Hong Kong and New York, USA.
In terms of its approach to senior leadership accountability, China Investment Corporation has an opportunity to link the remuneration of its executive or management teams to sustainability performance criteria. Furthermore, no evidence was found that the financial institution is committed to gender equality and women’s empowerment. It has an opportunity to disclose the proportion of women in senior leadership roles as well as how it addresses any gender pay gaps. China Investment Corporation has an opportunity to describe its engagement approach on sustainability themes and impact topics with investees.
There is no evidence that China Investment Corporation discloses a target to reach net-zero financed emissions by 2050. It has an opportunity to disclose the key sectors and companies it has identified as priorities to engage with on climate change, specifically on the alignment with the Paris Agreement. Furthermore, it has an opportunity to disclose the amount of its investment devoted to climate solutions. No evidence was found regarding the China Investment Corporation’s approach to fossil fuels that spans across the fossil fuel value chain, such as the amount or share of investment it directs towards fuels, or its stance on investing in companies with new fossil fuel projects. Regarding nature and biodiversity, the financial institution could commit to minimising its negative impacts or investing in regenerative solutions.
There is no evidence that China Investment Corporation has a publicly available policy statement committing it to respect human rights laid out in the UN Guiding Principles and the ILO declaration on fundamental rights at work. It has an opportunity to describe a comprehensive process for identifying its human rights risks and impacts across all its activities, especially its investment activities. The financial institution discloses the ages and gender of its directors, board of supervisors and members of its executive committee, but has an opportunity to disclose this information for each employee category. To provide transparency on financial inclusivity, China Investment Corporation has an opportunity to disclose the amount of finance directed towards, for example, women-owned businesses, small- and medium-sized enterprises (SMEs) or low-income developing countries.
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Net income: USD 108 billion; Total assets: USD 1.2 trillion