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Socially responsible investment
The idea
To offer products with a series of differential features that meet specific sustainability conditions.
In socially responsible investment (SRI) the decision-making process of the company or external investing agent is informed by ethical, social and/or environmental considerations, as well as strictly financial concerns to do with risk and return.
Caja Madrid has developed a portfolio of socially responsible investment products:
- Employees’ pension fund: the fund’s investment policy statement includes a series of ethical considerations, like excluding from the portfolio any assets of companies exploiting child labour, harming the environment or otherwise in breach of fundamental human rights.
- The EIRIS guidance tool has been used to organise socially responsible investments for:
- The Madrid City Council Pension Plan.
- The pension plans of the Spanish Parliament.
- The pension plans of Fondoandalsur (contributed to jointly by the Municipal Councils of Jerez de la Frontera, Trebujena, Chiclana de la Frontera and Vélez Málaga).
Results
- The Caja Madrid employee pension fund closed the year with €747 million in assets under management and 17,796 members.
- The Madrid City Council Pension Plan closed the year with €18.65 million in assets and 28,999 members.
- The pension plans of the Spanish Parliament (Las Cortes Generales del Reino) closed with assets under management of €3.17 million and 1,334 members.
- Fondoandalsur pension plans closed with €14.41 million in assets and 2,397 members.