Aviva Investors has announced three new initiatives that further strengthen its sustainable responsible investment (SRI) credentials and could contribute to the delivery of a more responsible approach to global investment.
Aviva Investors has announced three new initiatives that further strengthen its sustainable responsible investment (SRI) credentials and could contribute to the delivery of a more responsible approach to global investment.
Speaking at the annual TBLI (Triple Bottom Line Investment) conference on sustainable investment in Amsterdam, Aviva Investors chief executive Alain Dromer said: "From today we are taking a global approach to integrating responsible investment into all our investment management contracts and AGM voting.
"We are also launching a new sustainable fund focused on renewable energy infrastructure. These initiatives stem from our strong belief that better long-term investment returns come from companies that are well governed and with responsible management practices."
Responsible Investment Management Agreements
The first contract-based initiative means that Aviva Investors will be setting a new threshold for global best practice by including UN Principles for Responsible Investment (UN PRI) in its contracts.
"Clients will be able to see the PRI assessment of our performance and they will be able to hold us to account for delivery on our responsible investment commitments," added Alain.
Global AGM Voting
The second initiative means that Aviva Investors is broadening its AGM voting remit. In 2001, Aviva Investors legacy company in the UK, Morley, was the first institutional investor to begin using its AGM vote on companies report and accounts to transmit its views on the quality of disclosure on material corporate responsibility information. This applied to the FTSE 100 and has since been expanded to apply to the FTSE 350 and Eurofirst 300 holdings.
Aviva Investors will now introduce a global approach for AGM voting on corporate responsibility and will apply this to all global holdings on the MSCI world index.
New sustainable fund: Aviva Investors European Renewable Energy Fund
Today saw the launch of an infrastructure investment fund specialising in developing and financing renewable energy projects in the European Union.
The Aviva Investors European Renewable Energy Fund portfolio will include solar photovoltaic, geothermal, biomass, biogas and wind assets. Renewable energy projects which significantly reduce carbon emissions provide investment opportunities and, underpinned by solid market fundamentals, aims to deliver attractive performance.
Reform to listing rules
Alain also called for a debate with the listing authorities of global stock markets in order to explore whether they include the principles of the Global Compact in their listing requirements, saying: "I would like to see all stock market listing authorities make it a listing requirement that companies must evaluate the responsibility and sustainability of their business model and either put a forward looking sustainability strategy to the vote at their AGM or explain why they were unable to do so."