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A draft responsible investment code has been presented to South Africa’s institutional investors by a Committee on Responsible Investing by Institutional Investors, which has the support of major pension funds and financial institutions in the country.
The code, which builds upon the United Nations Principles for Responsible Investment, will require participants to implement an SRI policy, monitor the way they carry it out, and publicly report on their compliance with the code’s standards, in some cases every three months.
Although the code will be voluntary, its principles are based on a ‘apply or explain’ basis.
Among those on the Committee are the Government Employees Pension Board, Prudential Portfolio Managers, Investec, and Element Investment Managers.
The draft document is open for consultation until the end of October.
The code, which builds upon the United Nations Principles for Responsible Investment, will require participants to implement an SRI policy, monitor the way they carry it out, and publicly report on their compliance with the code’s standards, in some cases every three months.
Although the code will be voluntary, its principles are based on a ‘apply or explain’ basis.
Among those on the Committee are the Government Employees Pension Board, Prudential Portfolio Managers, Investec, and Element Investment Managers.
The draft document is open for consultation until the end of October.
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