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Colonial First State becomes a signatory to the Principles for Responsible Investment

Colonial First State becomes a signatory to the PRI

26 April 2017

Colonial First State has become a signatory to the UN-endorsed Principles for Responsible Investment (PRI), the world’s leading proponent of responsible investment.

Colonial First State was accepted as a signatory by the independent body that encourages investors to use responsible investment as a way to enhance returns and better manage risks.  Colonial First State’s commitment to the Principles for Responsible Investment (PRI) is just one of a number of activities associated with the implementation of Commonwealth Bank’s Wealth Management Responsible Investing Framework.

The PRI seeks to understand the investment implications of environmental, social and corporate governance (ESG) factors and to support its network of investor signatories in incorporating these into their investment and ownership decisions.  

Signatories have a duty to act in the best long term interests of their beneficiaries and believe that environmental social and corporate governance issues can affect investment performance.  

As a signatory, Colonial First State will adhere to the PRI’s six principles which include incorporating ESG issues into investment analysis and decision-making processes; being active owners; and seeking appropriate disclosure on ESG issues by the entities in which it invests.

Colonial First State will also have the opportunity to collaborate and participate in PRI co-ordinated company engagements on ESG issues, and will have the ability to better influence company activities in relation to their management of ESG and climate change matters.

Colonial First State’s Head of Investments, Scott Tully, commented: “For Colonial First State, responsible investing is about taking into account ESG and climate change risks in our investment process.  The acceptance of CFS as a signatory is another step in our responsible investing journey.” 

Senior Manager, Corporate Responsibility, Jodie Tapscott said as a PRI signatory, Colonial First State is required to report and communicate with its members.

“This will formalise our commitment to being transparent with our members on how ESG risks and issues are being managed on their behalf. It will also provide an opportunity to share engagement and voting outcomes so that our members have comfort that we are listening to their concerns on the environment and human rights.”