Sustainable & Responsible Investment Forum (SIF) Ireland handed key role in Government’s International Financial Services Strategy 2020
SIF Ireland chairman Terence O’Rourke has welcomed news that the Government has included the advancement of responsible investment practices in its latest International Financial Services (IFS) plan.
The new IFS 2020 Action Plan 2019 has formally mandated SIF Ireland to ‘accelerate’ the advancement of responsible investment across all asset classes in Ireland, and formally measure growth and progress in this growing area.
Welcoming the news, SIF Ireland chairman Terence O’Rourke said: “In responding to client demands, de-risking their portfolio and maintaining a competitive edge, the integration of responsible investing best practice is becoming a must-do for Irish located asset managers. With this mandate under IFS 2020, SIF Ireland looks forward to accelerating our efforts across 2019 and supporting the public policy debate, while driving real action at the market level.”
SIF Ireland’s new role in IFS 2020 was announced today by Financial Services Minister Michael D’Arcy at the European Financial Forum, being held at Dublin Castle, an event attended by some of the biggest financial players and policy makers in Europe.
The IFS 2020 Strategy for 2019 formally asks SIF Ireland to continue to advance Responsible Investment best practices across all Irish located asset classes, and to work with European and global bodies operating in this growing sector. SIF Ireland has also been tasked with producing a report that measures the growth and progress being made in this area.
The IFS 2020 plan for 2019 says: “The Sustainable and Responsible Investment Forum (SIF) Ireland will continue to advance the responsible investment agenda across all asset classes in Ireland, while
Sustainable & Responsible Investment Forum (SIF) Ireland is the national platform for policy makers, capital providers and intermediaries to advance sustainable & responsible investing across all asset classes.
Responsible investment is an approach to investing that aims to incorporate environmental, social and governance (ESG) factors into investment decisions, to better manage risk and generate sustainable, long-term returns.
Forum activities are overseen by a Committee that consists of Ireland’s Strategic Investment Fund, Irish Life Investment Managers, Mediolanum, KBI Global Investors, L&P Cantor Fitzgerald, Amundi, KPMG, Mercer, ESB Pension Fund, the Irish Department of Finance (observer), the Irish Association of Pension Funds and the Irish Association of Investment Managers.highlighting the impact to Irish capital market and corporate sector participants of the recommendations of the FSB Task Force on Climate-related Financial Disclosures and of the EU Action Plan for Financing Sustainable Growth.”
Commenting on the tasks given to SIF Ireland in IFS Action Plan 2020, Minister for Financial Services Michael D’Arcy said: “Since 2017, SIF Ireland has successfully worked to further advance the responsible investment agenda within Ireland. For 2019, I am looking forward to seeing SIF Ireland continue these efforts. These outputs in the IFS 2020 Action Plan 2019 will support greater growth in this vitally important sector, which in turn will underpin Irish leadership efforts in this space.”