Twelve consulting firms have set up a working group to improve sustainable investment practices in the U.K. investment industry.
Known as the Investment Consultants Sustainability Working Group, the consultants will seek to engage with stakeholders, including asset owners, money managers and regulators on sustainability considerations, including climate change, to establish good governance practices. They will also support their respective clients who are too small to meaningfully engage with industry initiatives as well as create a guiding set of principles that indicate good practice from managers.
"It is critical that we use our collective voice now to not only influence how the investment industry approaches sustainability; but importantly to provide greater clarity on what is needed and more support on what actions can be taken to make a tangible difference," Luba Nikulina, global head of research at Willis Towers Watson said in a news release.
Deb Clarke, global head of investment research at Mercer, added in the release: "Our clients are focused on ensuring that they generate their investment returns in a way that is sustainable and gives consideration to all stakeholders. Using the collective voice of the consulting industry to ensure greater transparency, consistency and support is an important step forward."