A group of 14 institutional investment consulting firms have joined forces to promote and improve sustainable investment practices in the U.S. The Investment Consultants Sustainability Working Group.
The ICSWG-US said Wednesday that its member firms have a collective $33 trillion under advisement worldwide.
The firms were inspired by their U.K. counterparts, according to Sarah Bernstein, managing principal, consultant and co-head of the ESG investing committee at Meketa Investment Group, which initiated the U.S. coalition.
The other founding members are ACG, Aon Hewitt Investment Consulting, Callan, Cambridge Associates, Marquette Associates, Mercer, NEPC, RVK, Segal Marco Advisors, SEI, Willis Towers Watson, Wilshire and Verus Investments.
"We welcome the opportunity to collaborate with our peers to encourage and advance sustainable investment practices, transparency and consistency to generate long-term investment returns, through the collective voice of the institutional investment consulting community," Ms. Bernstein said in a group statement.
The initial focus of the ICSWG-US will be on reporting, stewardship and regulation. Its goals include seeking "genuinely sustainable" investment outcomes, supporting clients without resources to engage directly with industry initiatives, and creating a guiding set of principles for good practice and practical advice, the group said.