Old Mutual signatory to responsible investing
International long-term savings‚ protection and investment group Old Mutual plc (OML) announdced on Friday that it has become a signatory to the United Nations-backed Principles for Responsible Investing (UN PRI).
It said the move reflects the group’s commitment to sustainability and its strategy of being a leading international provider of long-term savings‚ protection and investment products.
Responsible investing (RI) aims to ensure greater consideration of long-term environmental‚ social and governance (“ESG”) issues by asset owners (such as pension funds and insurers)‚ as well as investment managers through the life cycle of an investment transaction. The UN PRI provides an important voluntary and aspirational framework to guide the integration of these issues into the investment and ownership process.
Julian Roberts‚ Group Chief Executive of Old Mutual commented: “Investing is core for Old Mutual and‚ as a responsible business‚ we have a duty to invest responsibly. By signing the PRI‚ we are demonstrating our commitment to embedding responsible business practices across Old Mutual.
“As an asset owner Old Mutual will continue to work closely with its service providers to explore other opportunities to integrate ESG factors into its investment mandates. Similarly‚ the Group’s asset management capabilities will work towards the inclusion of material ESG factors into investment and ownership activities in a manner that is consistent with our obligations to clients. With respect to this‚ good progress has already been made by Old Mutual Investment Group SA (OMIGSA)‚ which recently published its Responsible Investment Guidelines.
“Old Mutual recognises that adopting the UN PRI is a commitment that will take time‚ while remaining aware of the long-term business case. As a custodian of our collective long-term future‚ Old Mutual believes that making this commitment is the right thing to do‚” Roberts added.
Dr James Gifford‚ Executive Director of the UN PRI‚ acknowledges the challenges ahead of Old Mutual and regards it as a positive step for RI globally.
“We are pleased to welcome Old Mutual plc as a signatory to the Principles for Responsible Investment. Implementing the Principles within a large‚ globally-diversified investment institution such as Old Mutual can be a complex challenge. However‚ we are seeing more and more large institutions with a dual role of asset owner and investment manager sign up and make real progress in responsible investment‚” he said.
