RIYADH — The 6th edition of the three-day Future Investment Initiative (FII) kicked off Tuesday at the King Abdul Aziz International Conference Center in Riyadh under the theme “Investing in Humanity: Enabling a New Global Order,” with the participation of 6,000 participants from various countries and 500 speakers from several sectors from inside and outside Saudi Arabia.

At the outset of the event, CEO of the FII Institute Richard Attias welcomed the princes, ministers, and participants in the new edition of the initiative, referring to the importance of sessions and discussions that this edition will witness through 180 sessions, 30 workshops and four micro-summits over three days.

Important issues will be discussed, including balancing success with sustainability and the geo-economic rise and equality in an unequal world, in addition to discussing what world leaders face in their attempts to restore the world to the pre-COVID-19 era and what the world faces of difficult and unexpected challenges.

He also highlighted the significance of collective efforts to realize the highest impact on fields of supporting humanity, mainly in light of what the world is facing of several difficult problems and a new global order.

The CEO also commended the big support that the institute receives from Crown Prince Mohammed Bin Salman, prime minister, and partners, mainly the Public Investments Fund (PIF).

Attias invited PIF Governor Yasir Al-Rumayyan to inaugurate the sixth edition of the FII and deliver the opening speech.

During his opening speech, Al-Rumayyan, who is also chairman of FII Institute, said that FII is the engine for global cooperation with the importance of committing to assets, mainly investing in humanity in a new global order.

Al-Rumayyan noted that various industries like communications, health and retail, among others, are main factors that contributed to global movement, reiterating that the COVID-19 pandemic has contributed to speeding up this industrial movement that led us to utilize available opportunities.

He pointed out that the initiative has developed a framework for governance and social environment for new markets with focus on measuring performance and environmental and social governance on our lives.

He noted that data is an important factor in the way of dealing with global crises like climate change and that Aramco, for example, managed to develop a new system that will be launched next year to contribute to accommodating gas emissions in a clear way.

Al-Rumayyan also stressed the importance for the world to be open for innovation and the significance for investors to unite to reach long-term ambitions, adding that Saudi Arabia has managed to develop partnerships with global companies in full harmony to realize sustainability across the world.

He also said that PIF is considered the first sovereign fund to issue a bond under the name of green bonds, noting that the voluntary carbon market is among top markets that have to see united efforts between investors and entrepreneurs to create educational opportunities for the youth in the knowledge economy.

Attias also took the podium in the opening session after a visual presentation on investing in humanity about a survey conducted by IPSOS on 130,000 adults from 13 countries, representing some 50% of the world population, in an attempt by FII Institute to provide visions on top priorities in the world in light of unprecedented social, environmental and identity challenges.

He said: “The initiative has prepared a report on facing global challenges to find solutions, with the participation of thousands of people, where 77% of interviewed people said that they were optimistic with a better future, and that financial safety is among top challenges facing 50% of people around the world, in addition to costs on the income, global warming and climate change, according to the recent survey.

The sixth edition of FII, launched earlier Tuesday, sees the participation of a group of Nobel laureates, a number of corporate heads and major investors in an effort to find sustainable solutions to meet the basic needs of the world's population.

Discussions will also focus on challenges posed by the new global order, as well as the opportunities that arise from it, such as the establishment of an economic system that improves the quality of life of citizens around the world.

The event will also see a number of mini-summits that will be held as part of the initiative's activities under the slogan "Clash of Generations", "The New Energy Economy", the rise of cryptocurrencies, and the future of Africa. — SPA