Canadian pension plans have another ethical investment option at their disposal now that Pier 21 Asset Management is opening access to the Pier 21 WorldWide Ethical Strategy.
The strategy, launched in 2001, is sub-advised by Copenhagen-based Carnegie Asset Management and is now available in Canada exclusively through Pier 21 Asset Management.
Carnegie teams up with ethical investment research firm, Global Ethical Standards(GES), “to incorporate environmental, social and governance analysis into its investment decision making process.” As part of the analysis of any new investment candidate, GES provides a report on the candidate’s compliance with international conventions and guidelines on environment, human rights and business ethics. As well, the strategy will not invest in any company if 5% or more of its annual turnover comes from the production or distribution of tobacco, alcohol, gambling, pornography or weapons.
“More and more, Canadians are embracing ethically-motivated practices in all areas of their lives, from organic grocery shopping to reducing carbon emissions,” said David Star, president and CEO at Montreal-based Pier 21. “We expect to see this translate into how Canadian shareholders invest and behave, and the institutional investment marketplace must respond to these evolving demands.”
The concentrated portfolio of 25 to 30 stocks includes names such as Nestlé, Roche, Electricité de France, Sinopec and Novartis.
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