Middle East
As responsible corporate citizens, we seek to do our part to make the world a more sustainable place. This means being thoughtful about our environmental footprint and taking positive action in the communities where we live and work.
Our employees are passionate about engaging with the communities in which we live and work. Each year we participate in internship, sponsorship, and other charitable activities around the world.
PineBridge is proud to partner with The Opportunity Network in its mission to ensure that young people from historically underrepresented backgrounds have equal access to educational and professional opportunities.
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The onset of the Covid-19 pandemic in 2020 was an unprecedented event that has caused devastating health and economic damage and disruption around the world, including in many places where PineBridge and its employees live and work. We took steps to respond to the crisis in our various roles as an employer, as a steward of our investors’ capital, and as an engaged member of our communities.
As local citizens, PineBridge and our employees participated in several regional charitable initiatives to offer relief and assistance to the most vulnerable communities, including those hurt by job losses, school closures, and loss of homes or facing hunger or other urgent health risks. Together, the firm raised over US$80,000 globally for regional charities, including:
Feeding America, the largest hunger-relief organization in the US.
NHS Charities Together, which supports UK National Health Service staff, volunteers, and patients affected by Covid-19.
Habitat for Humanity Hong Kong, supporting projects across Asia-Pacific that help families in need of decent and affordable housing.
Beyond Social Services in Singapore, helping underprivileged children and youth break away from the poverty cycle.
As an employer, PineBridge worked hard first and foremost to ensure the safety and health of our workers. When the outbreak began, we immediately communicated new work protocols, flexible working arrangements, and staggered working hours, along with travel restrictions and mandatory quarantine requirements. The firm subsequently implemented full business continuity protocols, with more than 90% of our global staff working from home during the peak of the outbreak, in an effort to protect employees, their families, and their communities.
As an investor, PineBridge consulted on the structuring of two landmark social bonds to fight Covid-19 and made capital allocations to each on behalf of the firm. The proceeds from the US$1 billion bond offering by the International Finance Corporation (IFC) and the US$3 billion bond by the African Development Bank will support health diagnostics programs and the development of vaccines.
As an investment manager, our global client, investment, and support teams worked around the clock to engage with clients and ensure they had up-to-date information on the markets and the impact on their portfolios. We hosted topical webinars, held virtual meetings, and shared commentary to address their specific concerns and answer questions.
From the pandemic to social inequities to climate emergencies, new challenges have brought greater urgency to the need for change.
Our inaugural Corporate Responsibility Report outlines our key initiatives in 2021, which focused on deepening our involvement beyond the allocation of capital. This effort involved raising the bar for the changes we want to see in the companies in which we invest, working with the global investment industry to meet universal climate and social goals, and improving our internal resiliency by investing further in our people.
As a responsible corporation, we think about how our business operations affect the environment. Although practices may vary depending on the office size and region, our firm applies several approaches to reduce our environmental footprint, including:
To further our commitment to help drive actionable change on greenhouse gas emissions, we are a signatory of the Net Zero Asset Managers initiative.
At the core of our commitment is the belief that climate change is a dire threat to global ecosystems, societies, and economies—and that the asset management industry has a leading role to play in supporting the journey to a carbon-neutral world, in line with the goals of the Paris Agreement. This commits us along with our peers to ambitious action in support of reaching net-zero emissions by 2050, or sooner,
Learn more about our efforts along with the broader asset management industry to take meaningful action on climate change.