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The 400 financial institutions assessed in the 2022 Financial System Benchmark span the entirety of the financial system. The ranking encompasses publicly listed, privately held and state-owned enterprises. In terms of industries, they contain asset owners (including pension funds, development finance institutions and sovereign wealth funds), asset managers (including investment consultants), banks and insurance companies. The benchmark looks cross-sector and cross-industry to provide a snapshot of system-level progress.

Ranking overview

Ranking table

 Total score out of 100 Governance and strategy out of 40 Respecting planetary boundaries out of 30 Adhering to societal conventions out of 30
1 Caisse de dépôt et placement du Québec (CDPQ)
Total score 32.4 /100
Governance and strategy 16.0 /40
Respecting planetary boundaries 11.1 /30
Adhering to societal conventions 5.3 /30
Governance and strategy 16.0 /40
Respecting planetary boundaries 11.1 /30
Adhering to societal conventions 5.3 /30
2 APG Group
Total score 31.2 /100
Governance and strategy 17.1 /40
Respecting planetary boundaries 13.1 /30
Adhering to societal conventions 1.0 /30
Governance and strategy 17.1 /40
Respecting planetary boundaries 13.1 /30
Adhering to societal conventions 1.0 /30
3 PGGM
Total score 29.1 /100
Governance and strategy 12.4 /40
Respecting planetary boundaries 14.2 /30
Adhering to societal conventions 2.5 /30
Governance and strategy 12.4 /40
Respecting planetary boundaries 14.2 /30
Adhering to societal conventions 2.5 /30
4 Arbejdsmarkedets Tillaegspension (ATP)
Total score 25.5 /100
Governance and strategy 12.2 /40
Respecting planetary boundaries 10.8 /30
Adhering to societal conventions 2.5 /30
Governance and strategy 12.2 /40
Respecting planetary boundaries 10.8 /30
Adhering to societal conventions 2.5 /30
5 Alecta
Total score 25.3 /100
Governance and strategy 15.1 /40
Respecting planetary boundaries 7.5 /30
Adhering to societal conventions 2.8 /30
Governance and strategy 15.1 /40
Respecting planetary boundaries 7.5 /30
Adhering to societal conventions 2.8 /30
6 Kommunal Landspensjonskasse Gjensidig Forsikringsselskap (KLP)
Total score 23.7 /100
Governance and strategy 9.7 /40
Respecting planetary boundaries 10.3 /30
Adhering to societal conventions 3.8 /30
Governance and strategy 9.7 /40
Respecting planetary boundaries 10.3 /30
Adhering to societal conventions 3.8 /30
7 Aware Super
Total score 22.6 /100
Governance and strategy 12.2 /40
Respecting planetary boundaries 6.9 /30
Adhering to societal conventions 3.5 /30
Governance and strategy 12.2 /40
Respecting planetary boundaries 6.9 /30
Adhering to societal conventions 3.5 /30
8 California Public Employees Retirement System (CalPERS)
Total score 21.1 /100
Governance and strategy 9.5 /40
Respecting planetary boundaries 8.6 /30
Adhering to societal conventions 3.0 /30
Governance and strategy 9.5 /40
Respecting planetary boundaries 8.6 /30
Adhering to societal conventions 3.0 /30
9 Caisse des Depots
Total score 20.3 /100
Governance and strategy 4.8 /40
Respecting planetary boundaries 12.8 /30
Adhering to societal conventions 2.8 /30
Governance and strategy 4.8 /40
Respecting planetary boundaries 12.8 /30
Adhering to societal conventions 2.8 /30
10 TIAA
Total score 19.7 /100
Governance and strategy 12.4 /40
Respecting planetary boundaries 3.3 /30
Adhering to societal conventions 4.0 /30
Governance and strategy 12.4 /40
Respecting planetary boundaries 3.3 /30
Adhering to societal conventions 4.0 /30
11 AustralianSuper
Total score 18.9 /100
Governance and strategy 7.8 /40
Respecting planetary boundaries 8.6 /30
Adhering to societal conventions 2.5 /30
Governance and strategy 7.8 /40
Respecting planetary boundaries 8.6 /30
Adhering to societal conventions 2.5 /30
12 Ontario Teachers' Pension Plan Board
Total score 17.3 /100
Governance and strategy 5.3 /40
Respecting planetary boundaries 7.5 /30
Adhering to societal conventions 4.5 /30
Governance and strategy 5.3 /40
Respecting planetary boundaries 7.5 /30
Adhering to societal conventions 4.5 /30
13 Alberta Investment Management Corporation (AIMCo)
Total score 17.1 /100
Governance and strategy 8.4 /40
Respecting planetary boundaries 4.2 /30
Adhering to societal conventions 4.5 /30
Governance and strategy 8.4 /40
Respecting planetary boundaries 4.2 /30
Adhering to societal conventions 4.5 /30
14 California State Teachers Retirement System (CalSTRS)
Total score 14.0 /100
Governance and strategy 5.5 /40
Respecting planetary boundaries 4.4 /30
Adhering to societal conventions 4.0 /30
Governance and strategy 5.5 /40
Respecting planetary boundaries 4.4 /30
Adhering to societal conventions 4.0 /30
15 Canada Pension Plan Investment Board
Total score 13.8 /100
Governance and strategy 6.5 /40
Respecting planetary boundaries 3.3 /30
Adhering to societal conventions 4.0 /30
Governance and strategy 6.5 /40
Respecting planetary boundaries 3.3 /30
Adhering to societal conventions 4.0 /30
16 British Columbia Investment Management Corporation (BCI)
Total score 12.8 /100
Governance and strategy 7.2 /40
Respecting planetary boundaries 2.1 /30
Adhering to societal conventions 3.5 /30
Governance and strategy 7.2 /40
Respecting planetary boundaries 2.1 /30
Adhering to societal conventions 3.5 /30
17 PFA
Total score 10.8 /100
Governance and strategy 4.0 /40
Respecting planetary boundaries 3.3 /30
Adhering to societal conventions 3.5 /30
Governance and strategy 4.0 /40
Respecting planetary boundaries 3.3 /30
Adhering to societal conventions 3.5 /30
18 Regents of the University of California
Total score 10.7 /100
Governance and strategy 5.0 /40
Respecting planetary boundaries 5.3 /30
Adhering to societal conventions 0.5 /30
Governance and strategy 5.0 /40
Respecting planetary boundaries 5.3 /30
Adhering to societal conventions 0.5 /30
19 New York State Common Retirement Fund
Total score 10.2 /100
Governance and strategy 6.0 /40
Respecting planetary boundaries 4.2 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 6.0 /40
Respecting planetary boundaries 4.2 /30
Adhering to societal conventions 0.0 /30
20 Qsuper
Total score 9.8 /100
Governance and strategy 1.0 /40
Respecting planetary boundaries 5.8 /30
Adhering to societal conventions 3.0 /30
Governance and strategy 1.0 /40
Respecting planetary boundaries 5.8 /30
Adhering to societal conventions 3.0 /30
21 PSP Investments Canada
Total score 9.5 /100
Governance and strategy 5.3 /40
Respecting planetary boundaries 1.7 /30
Adhering to societal conventions 2.5 /30
Governance and strategy 5.3 /40
Respecting planetary boundaries 1.7 /30
Adhering to societal conventions 2.5 /30
22 Public Investment Corporation (PIC)
Total score 9.1 /100
Governance and strategy 3.1 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 6.0 /30
Governance and strategy 3.1 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 6.0 /30
23 Washington State Investment Board
Total score 8.5 /100
Governance and strategy 5.8 /40
Respecting planetary boundaries 1.7 /30
Adhering to societal conventions 1.0 /30
Governance and strategy 5.8 /40
Respecting planetary boundaries 1.7 /30
Adhering to societal conventions 1.0 /30
24 MN
Total score 8.2 /100
Governance and strategy 2.9 /40
Respecting planetary boundaries 4.9 /30
Adhering to societal conventions 0.5 /30
Governance and strategy 2.9 /40
Respecting planetary boundaries 4.9 /30
Adhering to societal conventions 0.5 /30
25 Government Pension Investment Fund (GPIF)
Total score 8.1 /100
Governance and strategy 2.3 /40
Respecting planetary boundaries 5.3 /30
Adhering to societal conventions 0.5 /30
Governance and strategy 2.3 /40
Respecting planetary boundaries 5.3 /30
Adhering to societal conventions 0.5 /30
26 Universities Superannuation Scheme
Total score 7.5 /100
Governance and strategy 4.6 /40
Respecting planetary boundaries 1.9 /30
Adhering to societal conventions 1.0 /30
Governance and strategy 4.6 /40
Respecting planetary boundaries 1.9 /30
Adhering to societal conventions 1.0 /30
27 Healthcare of Ontario Pension Plan
Total score 7.3 /100
Governance and strategy 2.3 /40
Respecting planetary boundaries 5.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 2.3 /40
Respecting planetary boundaries 5.0 /30
Adhering to societal conventions 0.0 /30
28 Ontario Municipal Employees
Total score 6.5 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 2.5 /30
Adhering to societal conventions 4.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 2.5 /30
Adhering to societal conventions 4.0 /30
29 Malaysia Employees Provident Fund
Total score 5.4 /100
Governance and strategy 3.2 /40
Respecting planetary boundaries 1.7 /30
Adhering to societal conventions 0.5 /30
Governance and strategy 3.2 /40
Respecting planetary boundaries 1.7 /30
Adhering to societal conventions 0.5 /30
30 National Pension Service of Korea
Total score 3.4 /100
Governance and strategy 3.4 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 3.4 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
31 New York State Teachers Retirement System (NYSTRS)
Total score 3.1 /100
Governance and strategy 1.0 /40
Respecting planetary boundaries 1.7 /30
Adhering to societal conventions 0.5 /30
Governance and strategy 1.0 /40
Respecting planetary boundaries 1.7 /30
Adhering to societal conventions 0.5 /30
32 Teacher Retirement System of Texas
Total score 3.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 3.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 3.0 /30
33 Los Angeles County Employees Retirement Association (LACERA)
Total score 2.8 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.8 /30
Adhering to societal conventions 2.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.8 /30
Adhering to societal conventions 2.0 /30
34 Florida State Board of Administration
Total score 2.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 2.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 2.0 /30
35 Pension Fund Association for Local Government Officials
Total score 1.1 /100
Governance and strategy 1.1 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 1.1 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
36 Federal Retirement Thrift Investment Board (FRTIB)
Total score 1.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 1.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 1.0 /30
37 Massachusetts Pension Reserves Investment Trust
Total score 1.0 /100
Governance and strategy 1.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 1.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
- State of Wisconsin Investment Board
Total score 1.0 /100
Governance and strategy 1.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 1.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
39 Bayerische Versorgungskammer
Total score 0.8 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.8 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.8 /30
Adhering to societal conventions 0.0 /30
40 Civil Service Retirement System
Total score 0.5 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.5 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.5 /30
- Federal Employees Retirement System
Total score 0.5 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.5 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.5 /30
- Minnesota State Retirement System
Total score 0.5 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.5 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.5 /30
- North Carolina Retirement System
Total score 0.5 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.5 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.5 /30
44 Agirc-Arrco
Total score 0.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
- Employees Provident Fund Organization of India (EPFO)
Total score 0.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
- Federation of National Public Service Personnel Mutual Aid Associations
Total score 0.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
- Georgia Teachers
Total score 0.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
- Labor Pension Fund
Total score 0.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
- Michigan Retirement Systems
Total score 0.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
- NYCERS
Total score 0.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
- National Federation of Mutual Aid Associations for Municipal Personnel
Total score 0.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
- Ohio Public Employees Deferred Compensation Program
Total score 0.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
- Ohio Public Employees Retirement System (OPERS)
Total score 0.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
- Oregon Public Employees
Total score 0.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
- Pension Fund Association
Total score 0.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
- Public Institution for Social Security
Total score 0.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
- State Teachers Retirement System of Ohio
Total score 0.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
- Tennessee Consolidated Retirement System (TCRS)
Total score 0.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
- Virginia Retirement System
Total score 0.0 /100
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30
Governance and strategy 0.0 /40
Respecting planetary boundaries 0.0 /30
Adhering to societal conventions 0.0 /30