The UK government has for the first time issued a set of standards for asset managers engaged in the sustainable investment sector, reports Reuters
(28 October, Jessop). “Transforming our financial system for a greener future is crucial as we build back better from COVID-19 and to meet our legally binding target for net zero carbon emissions by 2050,” said Kwasi Kwarteng, minister of state for business, energy, and clean growth. Hammered out by the United Kingdom's national standards body, the BSI, along with the Department for Business, Energy, and Industrial Strategy (BEIS) and representatives of the UK financial services industry, the new voluntary standard sets out the requirements to establish, implement, and manage the process of integrating responsible and sustainable considerations into investment management. Data from the Investment Association show what it termed responsible investment funds under management in UK funds stood at US$47 billion as of the end of August, with total funds under management in these type of funds increasing 89 percent over the 18 months to June 2020.
From "United Kingdom Issues Sustainable Finance Best Practice for Asset Managers"
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