The signing commits Investec Wealth & Investment globally to the PRI, including the UK and SA investment portfolios.
This follows a similar move by Investec Ltd and Investec plc, that saw the bank become a signatory of the UN Principles for Responsible Banking in October 2020. Where the UN Principles for Responsible Banking govern the role and responsibility of the banking industry in shaping a sustainable future, the PRI focuses on investments. The initiative works to understand the investment implications of environmental, social and governance (ESG) factors and supports its international network of investor signatories in incorporating these factors into their investment and ownership decisions.
Commenting on the announcement, John Haynes, Head of Research for Investec Wealth & Investment said:
“As the world continues to prioritise sustainability, we as custodians of our clients’ wealth have a responsibility to encourage positive societal outcomes as well as monetary returns. The PRI is the world’s leading proponent of responsible investment and as Investec Wealth & Investment continues to evolve, we are pleased to commit to these principles.”
The PRI is a United Nations-supported international network of investors working together to implement its six aspirational principles - a voluntary set of investment principles for incorporating ESG issues into investment practice. The principles were developed by investors, for investors and by implementing them, signatories contribute to developing a more sustainable global financial system.
“The principles set out in the PRI focus on creating greater clarity and accountability within the ESG space. This clarity will lead to a standardisation that is necessary to ensure sustainability becomes central to all business practice,” said Tanya Dos Santos, Global Head of Sustainability for Investec.
The PRI also creates a platform for greater collaboration within the industry, enabling newcomers to learn from experienced players whilst ultimately working towards a global culture shift.
“Investec Wealth & Investment are delighted to be an official signatory and publicly demonstrate our commitment to responsible investment,” concluded Haynes.