Socially Responsible Investment Strategies Among African Pension Funds in Morocco: Asset Allocation and Long-Term Returns Analysis

Socially responsible investment (SRI) has gained traction among pension funds globally, including in Africa. In Morocco, understanding how African pension funds allocate their assets and the long-term returns of SRI strategies is crucial for policy makers and investors. A comprehensive literature review was conducted to identify relevant studies and reports from academic journals, industry publications, and official documents related to SRI practices in Morocco. Quantitative data from these sources were analysed for thematic synthesis and comparative analysis. The review identified a slight but noticeable trend towards allocating a higher proportion of assets to sustainable investment options compared to traditional investments, with themes emerging around environmental impact and community development initiatives. Moroccan pension funds are increasingly adopting SRI strategies, particularly focusing on environmental sustainability and social welfare. However, there is room for improvement in terms of diversification across different sectors and regions. Further research should explore the long-term impacts of these investments, including economic growth effects, and potential regulatory frameworks to support sustainable finance practices. The empirical specification follows $Y=\beta_0+\beta^\top X+\varepsilon$, and inference is reported with uncertainty-aware statistical criteria.