The European SRI Transparency Code, a document outlining guidelines for maintaining the transparency of socially responsible investing (SRI), has attracted approximately 350 signatories. The code was established in 2004 by the European Sustainable Investment Forum (EUROSIF), a France-based network that focuses on raising accountability to investors and stakeholders of retail SRI funds, with the aim of increasing the sustainability of financial markets. An SRI fund is one that intends to generate both financial return and social good.
Signatories to the code commit to submitting clear, informative and detailed information that is updated annually and easily accessible on their websites. Financial information must be reported using the same currency as the fund uses for other reporting purposes. If a signatory cannot report certain information, it agrees to state why this is the case. The code also lays out guidelines for reporting efforts related to environmental, social and governance (ESG) issues, evaluation, implementation and voting policy.
Signatories to the European SRI Transparency Code that have connections to microfinance investing include Allianz Global Investors, AXA Investment Managers, BNP Paribas Investment Partners, Dexia Asset Management, HSBC Global Asset Management, Oppenheim Asset Management Services SARL, SNS Asset Management and Triodos Bank. As of January 2012 there are 350 signatories to the code.
About Eurosif
Eurosif is a France-based pan-European network established in 2001 to serve as an umbrella association covering “socially responsible” investment issues in Europe. It is a partnership of the European Union’s “Sustainable Investment Forums” from France, Germany, Italy, the Netherlands, the United Kingdom, Belgium, Spain and Sweden. Eurosif is comprised of 76 member affiliates, which represent institutional investors, financial service providers, academic institutes, trade unions and nongovernmental organizations. Eurosif’s four main objectives are lobbying in the EU, conducting research, providing events and communications and expanding the European network.
By Charlotte Newman, Research Associate
Sources and Additional Resources:
European Fund for Southeast Europe: “Press Release- EFSE Signs European SRI Transparency Guidelines,” http://www.efse.lu/Details—2012-01-25-EFSE-signs-European-SRI-Transparency-Code——_nav._siteid.134_entryid.397_dir._likecms.html
EUROSIF: “European SRI Transparency Code,” http://www.eurosif.org/sri-resources/sri-transparency-code/
EUROSIF: “European SRI Transparency Code Version 2,” http://www.eurosif.org/images/stories/pdf/european_sri_transparency_code.pdf
MicroCapital.org story, April 13, 2011, “MICROCAPITAL BRIEF: ‘Principles for Investors in Inclusive Finance’ (PIIF) Created as Separate Work Stream Within United Nations’ Principles for Responsible Investment (PRI); CGAP (Consultative Group to Assist the Poor), Global Impact Investing Network (GIIN) Standards Observed,” https://www.microcapital.org/microcapital-brief-%E2%80%9Cprinciples-for-investors-in-inclusive-finance%E2%80%9D-piif-created-as-separate-work-stream-within-united-nations%E2%80%99-principles-for-responsible-investment-pri-c/
MicroCapital Universe Profile: Eurosif
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=European+Sustainable+Investment+Forum+%28Eurosif%29
MicroCapital Universe Profile: Allianz
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Allianz
MicroCapital Universe Profile: BNP Paribas
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=BNP+Paribas
MicroCapital Universe Profile: Dexia
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Dexia+Microcredit+Fund+%28DMCF%29
MicroCapital Universe Profile: SNS Asset Management
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=SNS+Asset+Management
MicroCapital Universe Profile: Triodos
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Triodos+Investment+Management
MicroCapital Universe Profile: European Fund for Southeast Europe
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=European+Fund+for+Southeast+Europe+%28EFSE%29
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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