5 October 2020
Foresters Friendly Society signs up to Principles for Responsible Investment
Foresters Friendly Society is proud to announce that it has become a signatory to the Principles for Responsible Investment (PRI)
This step demonstrates the Society’s commitment to responsible investment, joining a global community seeking to build a more sustainable financial system. We are committed to reducing our impact on the environment in the way that our organisation is managed on a day-to-day basis and mitigating climate change risk in our investment portfolios. In turn, this approach will ensure that Foresters members have confidence in the fact that investing with Foresters is a decision they can feel proud of, knowing that their money will be invested in a responsible, environmentally conscious and sustainable way.
As of September 2020, Foresters is the only friendly society to sign up to the PRI. As a mutual society, Foresters is not driven by profit. Foresters aims to deliver strong investment returns to its members, while providing additional member benefits, to help with the everyday essentials, like healthcare, and assistance in times of hardship through the Support Fund. Foresters takes this responsible approach into our investments ensuring we act in a socially conscious way, not only towards our own members, but also towards the society at large, by ensuring a strict scrutiny on the companies in which we invest. Signing up to the PRI confirms Foresters belief in those principles.
The PRI (Principles for Responsible Investment) is the world’s leading supporter of responsible investment. It acts to promote a better understanding of the investment implications of environmental, social and governance (ESG) factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. It is an independent body and encourages investors to use responsible investment to enhance returns and better manage risks.
The PRI believes that an economically efficient, sustainable global financial system is a necessity for long-term value creation. Such a system will reward long-term, responsible investment and benefit the environment and society as a whole.
The 6 Principles of Responsible Investment that Foresters are committed to are:
- To incorporate Environmental, Social and Corporate Governance (ESG) issues into investment analysis and decision-making processes;
- To be an active owner and to incorporate ESG issues into our ownership policies and practices;
- To seek appropriate disclosure on ESG issues by the entities in which we invest;
- To promote acceptance and implementation of the Principles within the investment industry;
- To work with the PRI Secretariat and other signatories to enhance their effectiveness in implementing the Principles;
- To report on our activities and progress towards implementing the Principles.
Becoming a signatory means that all Foresters investments will abide by these principles, and ensures that sound environmental, social and corporate governance remain at the heart of its investment strategy.
Corrado Pistarino, Chief Investment Officer at Foresters Friendly Society, commented:
“I am delighted the Society has become a signatory to the PRI. This is a strong signal, both internally to our existing policyholders and investors, and to the public at large, of our long-term commitment to responsible investing.
This includes a commitment to both reducing our own impact on the environment in the way the organisation is managed on a day-to-day basis, and working to mitigate climate change risk in our investment portfolios.”
Find out more about the full range of savings & investments products offered by Foresters Friendly Society.
You can also find out more about the PRI on their website.