Friday, 20 April 2007

Pension Protection Fund considers SRI

There's an interesting snippet on the IPE website about the Pension Protection Fund (our equivalent of the US Pension Benefit Guaranty Corporation) looking to develop a socially responsible investment strategy. It's worth noting because it's another example of an institution with a relationship with Government setting the pace. No-one is under any illusion that the PPF isn't interested in generating returns to pay pensions, but the PPF clearly believes it can do this and also take an active stance on shareholder engagement. So why can't private sector funds do it? 18 April 2007 15:55:

UK – The UK’s £305m (€446.3m) Pension Protection Fund is seeking a consultant to help it create a policy on socially responsible investing.

The provider will also have to ensure that the PPF's fund managers adhere to the policy, a spokesman for the UK's pension "life boat" told IPE.

Furthermore, the fund is looking for active governance proxy voting services to complement the SRI policy.

"This is all about taking forward our commitment to socially responsible investment," the spokesman said.

Deadline for participation is May 2.

No comments: