News: Greece’s SWF appoints ESG advisers to build value in public assets

Press Release - Greece's €6.1bn sovereign wealth fund Growthfund has appointed a multi-disciplinary group of international advisers led by Earth Active, consultants in environmental, social and governance (ESG) investing with headquarters in London, to build the value of its portfolio.

The appointments, which include Athens-based Sympraxis, combine expertise in ESG audit, capacity building, policy and strategy and ESG stakeholder communications.

Growthfund (the Hellenic Corporation of Assets and Participations, or HCAP) is a holding company for the country's government-owned assets. It was set up in 2016 with the Greek state as its sole shareholder - represented by the minister of finance - to include these assets in a single institutional structure, with the aim of operating and exploiting them more efficiently.

In doing so, the fund aims to play an active role in the modernisation of public enterprises, maximise the value of public property, ensure enhanced services for citizens and consumers, and contribute to the national economy.

Growthfund's portfolio covers subsidiaries and stakes in public enterprises that are active in key areas of the Greek economy, such as real estate, energy and utilities (Public Power Corporation; Athens Water Supply and Sewerage); transport and infrastructure (Athens International Airport, 23 regional airports and the Corinth Canal); food (Hellenic Saltworks); technology and postal services (Hellenic Post).

Source: IPE