Major consultancies form sustainability working group
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Twelve investment consultancies have joined forces to create the Investment Consultants Sustainability Working Group.
The consultant community has sometimes had to take criticism when it comes to sustainable investing, on not educating asset owners on this approach or not recommending it when it could be.
The new group, launched on Monday, has outlined six commitments for its members. These are to:
The consultant community has sometimes had to take criticism when it comes to sustainable investing, on not educating asset owners on this approach or not recommending it when it could be.
The new group, launched on Monday, has outlined six commitments for its members. These are to:
- engage across a broad range of stakeholders, including asset owners, asset managers and regulators;
- seek investment outcomes which are genuinely sustainable and not treat sustainability as a tick box exercise;
- align with, and support, existing industry bodies and initiatives;
- support their respective clients who are too small to meaningfully engage with industry initiatives;
- create a guiding set of principles that indicate good practice with practical advice;
- be a body where regulators and other stakeholders can seek input when they need a view from investment consultants.
The group has also identified six workstreams that it plans to explore initially, on
- Reporting
- Asset owners
- Asset managers
- Stewardship
- Regulation
- Innovation, new products and impact investing
The 12 member firms of the Investment Consultants Sustainability Working Group are:
- Aon
- Barnett Waddingham
- Cambridge Associates
- Cardano
- Hymans Robertson
- ISIO
- LCP
- Mercer
- MJ Hudson Allenbridge
- Redington
- SEI
- Willis Towers Watson
Luba Nikulina, global head of research at Willis Towers Watson, said about the launch of the group: “It is critical that we use our collective voice now to not only influence how the investment industry approaches sustainability; but importantly to provide greater clarity on what is needed and more support on what actions can be taken to make a tangible difference.”
Deb Clarke, global head of investment research at Mercer, said: “Our clients are focused on ensuring that they generate their investment returns in a way that is sustainable and gives consideration to all stakeholders. Using the collective voice of the consulting industry to ensure greater transparency, consistency and support is an important step forward.”
John Belgrove, senior partner at Aon, said: “This is a new and powerful industry initiative. We recognise that the circumstances of individual clients will always come first in designing solutions. However, these collective statements and intentions should leave asset owners and fund managers in absolutely no doubt about the high importance that Aon and the UK consulting industry place on sustainable/responsible investing, and the embedding of ESG risk awareness in long term portfolio construction.”
John Belgrove, senior partner at Aon, said: “This is a new and powerful industry initiative. We recognise that the circumstances of individual clients will always come first in designing solutions. However, these collective statements and intentions should leave asset owners and fund managers in absolutely no doubt about the high importance that Aon and the UK consulting industry place on sustainable/responsible investing, and the embedding of ESG risk awareness in long term portfolio construction.”
