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Shell sets up Dutch SRI pilot

January 2003

Shell has adopted a socially responsible investment approach to some of the money it manages in its pension fund for Dutch employees.

Around €10million ($10m, £6m) of Shell Pensioenfonds assets will be managed on an SRI basis over the next four years in a pilot that could be extended to the rest of the oil company’s pension funds.

Although Shell has declined to reveal details of the scheme, an insider told EP: ‘The Netherlands are acting as a proving ground for the rest of the company, particularly the UK.’

Initially, in-house analysts will assess companies, but external fund managers may do so at a later date. The analysis will include negative screening and positive engagement, with an emphasis on the latter for European equities ‘because the necessary research is easier to do in Europe’.

Around 20 per cent of assets held by the pension fund of the UK’s Environment Agency is to be managed along socially responsible investment lines. The regulatory body switched £20million this month into a specially-created ‘eco-enhanced’ index fund managed by State Street Global Advisors with research provided by Innovest.




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