Sustainable and Responsible Investing: Where Are We and Where Do We Go From Here? Brussels, December 3, 2012.

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Presentation transcript:

Sustainable and Responsible Investing: Where Are We and Where Do We Go From Here? Brussels, December 3, 2012

EUROSIF – The leading pan-European sustainable investment membership association Proximity to EU domestic markets via national SIFs 1 Multi-stakeholder organisation 2 European focus 3 Partnership of 8 national SIFs Supported by about 70 Member Affiliates Partnership of 8 national SIFs Supported by about 70 Member Affiliates

A multi-stakeholder organisation with around 70 Member Affiliates

Eurosif Key Activities Hands-on EU Advocacy Thought Leadership Standard setting/ Terminology Promotion of SRI Member Affiliate Network Servicing

Created with the support of:

Created with the support of

Introduction: No Single Market for SRI Sustainable and Responsible Investment Strategies Sustainability themed Best-in-Class and Positive screening Norms-based screening Exclusions ESG Integration Engagement and voting Impact investing

Simplified Country Perspectives on SRI CountryKey SRI practicesRegulatory HighlightSelect SRI Facts BelgiumNorms-based; Best in Class, Exclusions Investment in anti-personnel mines is forbidden (March 2007) BEAMA / Febelfin Initiatives; Strong retail penetration FranceBest in class / positive screening/ ESG Integration Article 225 (2012) on ESG reporting for Asset Managers; Grenelle II Role of French Employees Savings Plans United Kingdom ESG Integration & Engagement Statement of Invest. Principles (pensions, 2000) UK Stewardship Code (2010) Strong PRI signatory base Netherlands ESG Integration & Engagement, Exclusions Pending legislation to ban investment in cluster munition (2013) Influence of large Pension Funds Top market in most strategies

Overview of SRI Strategies Used in Europe Source: Eurosif

Growth Compared to Overall Market Source: Eurosif, EFAMA

Sustainability themed Almost doubled since 2009 Now found in almost all countries surveyed Demand growing in Holland, Germany, UK, Switzerland Source: Eurosif

Exclusions Covers ~28% of European total AuM Key drivers: German, Swiss and Dutch markets Policies covering cluster munitions and anti-personnel mines now cover 48% of Europe’s AuM Source: Eurosif

Impact Investing – Space to watch Institutional and retail investment assets. Excludes Development finance + community banking deposits Total size of market is: € 8.75 billion Source: Eurosif

Breakdown by type of investor Europe Retail Average: 6% (Spain 3%) Relative Decline vs Institutional Source: Eurosif

Drivers of SRI Demand Legislative drivers Source: Eurosif Red Flag !!

HNWI remain a key distribution channel for SRI Increase by ~60% between 2009 and 2011 Overall European HNWI Wealth increased by 18% Source: Eurosif, % +18%

Share of Sustainable Investments in Total HNWI Portfolio Source: Eurosif, 2012 The share of wallet of Sustainable Investments has increased HNWIs allocating over 50% to SI have doubled (25%)

Attitudes to Sustainable Investments Source: Eurosif, 2012

Source: Eurosif, 2012 Note: impact investing not directly comparable with previous years Thematic and Best-in-Class are popular with HNWI Positive screening and Sustainability-themed mostly used Substantial increase of Impact Investing Strategies often combined in a portfolio (Core-Satellite)

Conclusions All strategies have grown since 2009 (faster than market) Increasing investor interest for Impact Investing Institutional investors remain key drivers Data shows continuous demand by European HNWI However, general retail demand remains a challenge  How can the industry address this?

Rue du Progrès 331 B Bruxelles facebook/eurosif LinkedIn/eurosif t Registered Office: La Ruche, 84, Quai de Jemmapes, 75010, Paris, France Contact / Follow Eurosif

Sustainability Themes Used (ex. Impact Investing) Strong domination on environmental issues (energy / climate) But all themes have experienced growth, indicating that other themes become increasingly attractive (eg. health) Source: Eurosif, 2012 Back-up

Impact Investing Approaches Used Microfinance preferred but less so than with overall market (55%) Attractiveness of Social Business investments is higher than the overall market (19%) Source: Eurosif, 2012 Back-up

Motivations for Sustainable & Impact Investing Source: Eurosif, 2012 Sustainable Investment Impact Investing Back-up

Sustainable Investment Barriers to Sustainable & Impact Investing Impact Investing Back-up