Acting responsibly is a tradition for German ICMIF member R+V Versicherung. The cooperative insurer has this week announced that it has signed the Principles for Responsible Investment (PRI) supported by the United Nations (UN).
The goal of the PRI international investor network of asset managers, banks and insurance companies from around 80 countries is to create a more sustainable global financial system. As one of the leading insurers in Germany, R+V say it is now also supporting the PRI investor initiative. R+V has joined the fund company Union Investment, another major partner of the cooperative financial group Volksbanken Raiffeisenbanken, as a PRI signatory. Among other things, the PRI initiative stipulates that members pay special attention to sustainability aspects when investing capital and that they actively support these principles as shareholders.
R+V CEO Norbert Rollinger said: “For R+V as a cooperative enterprise, responsible action towards the environment, employees, customers and society is a matter of course. By signing the PRI, we are also making it clear how important sustainability and a sense of responsibility are to us in our capital investments.”
R+V CFO Marc Michallet said: “With an investment volume of almost 120 billion euros, R+V is one of the largest institutional investors in Germany. For years, we have not only focused on security and returns, but also on ethical, social and ecological criteria, and have continuously developed our sustainability concept in capital investments. We therefore support the PRI with great conviction in order to jointly advance the important topic of sustainability in the investment sector.”
The six Principles for Responsible Investment are a voluntary and aspirational set of investment principles that offer a menu of possible actions for incorporating ESG issues into investment practice.
The Principles were developed by investors, for investors. In implementing them, signatories contribute to developing a more sustainable global financial system. The six principles are:
- Principle 1: We will incorporate ESG issues into investment analysis and decision-making processes.
- Principle 2: We will be active owners and incorporate ESG issues into our ownership policies and practices.
- Principle 3: We will seek appropriate disclosure on ESG issues by the entities in which we invest.
- Principle 4: We will promote acceptance and implementation of the Principles within the investment industry.
- Principle 5: We will work together to enhance our effectiveness in implementing the Principles.
- Principle 6: We will each report on our activities and progress towards implementing the Principles.
Other ICMIF members which have also signed up to the PRI include The Co-operators, Desjardins and Beneva (Canada), Folksam and Länsförsäkringar (Sweden), MAIF (France), LocalTapiola (Finland), Vaudoise and Swiss Re (Switzerland), Unipol (Italy) and Royal London and Aviva Investors (UK).