KBC Bank has today announced the launch of two new socially responsible investment funds designed to offer more investment opportunities to socially conscious consumers in Ireland.

The new funds are Socially Responsible Investing (SRI) versions of KBC’s Asset Management’s flagship funds and are designed to balance environmental and social good in a way that brings about positive change, while also delivering a financial return to investors.

Using the UN Global Compact principles as a guide, the SRI analysts screen potential companies in order to identify and exclude activities, companies and regimes that fall short of KBC’s SRI standards. The board also tracks individual principles within those companies to assess performance and specific targets in relation to sustainability, climate change and corporate social responsibility initiatives.

Globally, SRI has become an increasingly popular investment tool with the amount of SRI funds under management more than doubling in the five years from 2012 to 2017. Following the launch of the SIVEK SRI funds in Ireland, KBC Bank plans to expand on its sustainable investment offering in the Irish market with the introduction of additional SRI funds in the coming months. KBC’s SIVEK SRI Low and SIVEK SRI Medium investment funds are available to investors in Ireland from today.

Launching the initiative, Director of Products at KBC Bank Ireland, Fergal O'Riagain said, "SRI as an investment tool is a relatively new concept in Ireland, but at KBC we want to change that. Typically, investors don’t always know how their money is being used and there is often a lack of transparency in terms of how companies operate, particularly on a global level. Our approach to SRI aims to change this by providing peace of mind and offering more choice to the socially conscious consumer."

Source: www.businessworld.ie