BNP Paribas Wealth Management report that its investments through SRI (socially responsible investing) and impact investment have grown by 50% annually since 2010 and total EUR6.5bn ($7.45bn).
The bank launched its responsible investment offering in 2007 in response to its clients’ growing interest in combining financial performance with social and environmental concerns. The investments cover sectors such as energy efficiency, water treatment and social entrepreneurship.
In conjunction with these responsible investments, BNP Paribas implement a rating tool, SRIness Rating, which evaluates SRI funds by taking into account the quality of the extra-financial investment process and the responsible approach of the asset management firm. This evaluation is followed by a financial evaluation of the fund. Using this method, 200 SRI funds were selected out of nearly 2,000 funds available on the market.
"We observe a keen interest in SRI products amongst our European clients, especially in Belgium, the Netherlands and France. US investors are finding responsible investments increasingly appealing, and Bank of the West Wealth Management is developing a platform of responsible products to meet this demand", says Eléonore Bedel, who is in charge of SRI and Impact Investing.