Half of the asset managers domiciled in Ireland have implemented a sustainability-themed strategy, in a sign that responsible investment is going mainstream in the country.
The State of Play report 2018 surveyed Irish asset managers with €77 billion ($88 billion) of assets under management and was commissioned by Sustainable & Responsible Investment Forum (SIF) Ireland.
Those respondents to the study that invested in sustainability themes, said their focus was largely on renewable energy and fossil fuels, energy efficiency, the building sector, land use/forestry/agriculture, sustainable transport, water management and waste management.
The study also found that 81% of interviewees have a responsible investment policy in place, 25% carry out impact investment, and 63% operate some form of fund-specific exclusion policy. The most commonly identified exclusions were tobacco and the production of weapons.
Green and sustainable finance was one of six priority areas of the International Financial Services (IFS) sector's strategy for 2018.
Minister of State for financial services and insurance Michael D'Arcy, who launched the 2018 version of the IFS2020, explained that implementing the strategy was a strong focus.
Terence O'Rourke, chairman of SIF Ireland, said: "These results point to the fact that responsible investing is becoming a must-do for Irish located asset managers, which is a major plus."
The study was published to coincide with Climate Week Ireland, a programme of events organised all this week by Sustainable Nation Ireland, and included the Climate-KIC Mission Finance - Climate Innovation Summit.
Channels:ESG