Socially Responsible Investment (SRI) funds had already emerged at the time of the first report. They generally employed negative screening to avoid investing in harmful sectors and used shareholder activism to encourage responsible behaviour by companies. These funds have seen robust growth over the last decade. The
latest figures from UKSIF (the Sustainable Investment and Finance Association)1 indicate that roughly £764 billion
was invested in these funds in the UK.
Micro-finance in emerging markets had also moved beyond grant-funding into offering opportunities for social investors. That likewise has grown significantly over the past few years, with major investment banks now involved in raising and structuring finance for micro-finance organisations. The gross loan portfolio of micro-finance organisations was over $39 billion at year end 2008. This represents 76 million borrowers (with an average loan balance of less than $600). There are now over 100 investment funds investing in this market with over $6 billion in assets.
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