FRANCE - The annual Socially Responsible Investment (SRI) survey has demonstrated French institutional investors place a high value on 'green' and responsible investing with a heavy focus on the environment.
Over 60% of investors had an SRI plan in place, up 13% from last year. Almost one third of those questioned had committed 5% or more of assets to socially responsible investments, with a significant number (40%) expecting to have this level of assets in SRI within five years.
More than a third of the sample said SRI should guide all investment decisions. Indeed, l'Etablissement de retraite additionnelle de la fonction publique (ERAFP), the French civil service pension fund, announced in 2006 that it would conduct all future investments in line with SRI principles. ERAFP awarded three SRI mandates totalling €1.2bn (US$1.75bn) in February this year.
The environment also emerged as a key concern for investors. Over seven out of ten (73%) said the environment was the most important criterion for SRI, a rise of 27% on last year, while over one third (35%) thought climate change was the most important consideration.
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