PRI gains traction in Chile
October 22, 2014
On 16 and 17 October, think tank GovernArt and Diario Financeiro (DF) newspaper conducted a Responsible Investment Program in Chile. As part of the academic staff teaching the courses are two experts from the Principles for Responsible Investment (PRI), Maria Lettini and Tatiana Assali, who spoke with DF on the impact of this initiative, which represents more than US$ 45 trillion AUM worldwide. Since its inception in 2005, the PRI has been dedicated to the education and promotion of its six principles for responsible investment, which consider environmental, social and governance (ESG) issues in investment decisions.
PRI has over 1,260 signatories, including investors, asset managers, foundations and financial services providers that adhere to these principles, with Brazil being the most advanced country in the region with more than 70 signatories. PRI points out that they intend to add signatories in Chile – now only GovernArt is a signatory – and to then focus on Colombia and Peru.
“I see no obstacles for investors in Chile to join the principles of the PRI, I just think we need to educate them on these issues and show the experience that countries with similar structures have achieved,” says Lettini, referring to Australia, South Africa and Brazil, which also base their economy on extractive sectors, potentially leading to mutual learning.
Responsible investing in Chile is just starting but there are countries where governments have made the promotion of responsible investment a focus. An example is Brazil, where the Central Bank issued a resolution stating that all institutions under its rules need an environmental and social responsibility policy by 2015.
To view the original article please click here (Spanish only)
From Diario Financiero, October 15, | Written by: Alejandra Maturana | Translated by: Tatiana Assali, PRI