A Europe-wide accreditation standard for socially responsible investment funds is to be created by s...
A Europe-wide accreditation standard for socially responsible investment funds is to be created by spring 2003.
Details revealed in this month's Ethical Performance business newsletter say the European Commission has already approved the voluntary standard which is based on those set by a Dutch sustainable development association known as VBDO.
Paris-based European Sustainable and Responsible Investment Forum (Eurosif) will draw up the guidelines which should encourage SRI fund managers to disclose how they choose their investments and what methods they use to assess companies.
Fund managers will also be told what changes they might need to make to their own funds meet the self-regulating standards.
There has been increasing pressure for the development of a recognised SRI standard, says Ethical Performance, as new entrants into the market are thought to be watering the criteria applied to environmental and socially-responsible funds by not meeting their own targets.
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