Goldman Sachs JBWere Asset Management (GSJBWAM) has signed the voluntary United Nations Principles for Responsible Investment (PRI).
As a signatory, GSJBWAM has agreed to consider the consequences on environmental, social and corporate governance (ESG) issues in its investment analysis and decision-making process for all its domestic actively managed funds.
GSJBWAM managing director Ian Ward-Ambler said there was a growing demand from investors, particuarly a large number of institutional superannuation fund clients, for the firm to consider ESG issues in its investment decisions.
“As a firm we believe we have a responsibility to play a constructive role in helping to address the challenges facing the environment and signing the PRI is a further reflection of our commitment in this area,” he said.
GSJBWAM joins other Australian signatories including Portfolio Partners, AMP Capital Investors, BT Financial Group, Colonial First State and Axa Australia in becoming signatories.
Two years ago the New York-based Goldman Sachs set up a team to measure company performance against ESG factors.
Goldman Sachs international managing director Anthony Ling told the UN’s news service that monitoring the ESG factors was important in the changing competitive landscape of the industry.
“A weak performance in the ESG area means you are going to lose competitive advantage and this will impact on your stock performance,” he said.
Signatories to the UN-sponsored PRI collectively hold over $11 trillion in assets.
