St Andrews signs up for responsible investment

This Friday, Principal, Professor Louise Richardson will sign the initiative for the University of Saint Andrews to adopt the UN backed Principles of Responsible Investment (PRI).

CEO of the PRI James Gifford will witness the signing and give a seminar, which will be followed by a wine reception and a panel discussion wherein students will ask questions about the PRI.

According to the St Andews Students’ Association, the University has become the second in Europe (after Edinburgh uni) and third in the world to sign up for PRI.

Responsible Investment is defined in the PRI as “an approach to investment that explicitly acknowledges the relevance to the investor of environmental, social and governance (ESG) factors, and the long-term health and stability of the market as a whole.” Over 1,000 companies have adopted the PRI and $30 trillion assets from major worldwide funds have grown out of it.

Apparently, the signing of the PRI will “incorporate ESG issues into investment analysis and decision making processes,” as stated in the press release.

Students’ Association President Freddie Fforde said, “The PRI represents the best in student led campaigning for responsible investment at the University of St Andrews. The Students’ Association began campaigning for the Ethical Investment policy at St Andrews ten years ago and in a referendum of May 2003, 91% of the 1,200 students voting elected to support an ethical investment campaign.”

The Students’ Association says is will be active owners and incorporate ESG issues into its ownership policies and practises, will seek proper disclosure on the entities in which it invests, will promote the PRI within the investment industry and will work in order to effectively implement the Principles.

The PRI launch event will be held this Friday 3rd May at 4:15 pm at the Gateway building and will be hosted by the Students’ Association, Management Society, Investment Society and the Centre for Responsible Banking and Finance.

image  © Management Society and InvestSoc