The company becomes the first Mutual Benefit Fund in Spain to sign up to the Principles for Responsible Investment (PRI): investments that make financial, ethical and social sense.
Madrid, 21 July 2015. Loreto Mutua, a non-profit organisation and one of the ten leading institutions dedicated to social welfare in Spain by volume of assets managed under the employment plans category, has signed up to the PRI (Principles for Responsible Investment), an initiative of the UN Secretary-General operated by a specific agency. By becoming a signatory to these Principles, Loreto Mutua, the first Spanish mutual benefit fund to do so, has underlined it commitment to incorporating environmental and social impact variables, good corporate governance and transparency into its investment decisions.
Loreto Mutua will also promote the acceptance and application of the Principles in the investment sector and, together with the PRI Secretariat, will work to improve the effectiveness of their application. On an ongoing basis, Loreto Mutua will also report on the activities and progress in the application of the principles.
Jon Aramburu, Loreto Mutua’s CEO, said “Becoming part of PRI is a milestone in our history, an objective that we have been pursuing for a long time and one more step in our understanding of responsibility, commitment and ethics in the financial and investment sector. These principles are financially important over the long term. By integrating them into our investments, we better protect the interests and pensions of our members.”
PRI (Principles for Responsible Investment)
In early 2005, the United Nations Secretary-General invited a group of the most important institutional investors worldwide to join the process for the development of the Principles for Responsible Investment (PRI). Representatives of 20 institutional investors from 12 countries agreed to participate in the Investors Group. The Group accepted the authorship of the Principles, and had the freedom to develop them as necessary.
The Principles for Responsible Investment aim to help institutional investors to integrate environmental, social and corporate governance issues into their investment processes.