PIF has a global and local investment portfolio with a focus on sustainable investments. In February 2023, PIF completed its acquisition of a 30% stake in the Saudi Tabreed District Cooling Company to reduce power consumption and operational cost savings. It also completed its second green bond issuance, raising $5.5 billion to finance or refinance PIF’s green investments, and it signed a joint venture agreement with U.S.-based AeroFarms to establish indoor vertical farms in Saudi Arabia and MENA, which uses 95% less water than field farming.