SRI to get boost this year
Ethical investing is likely to get a bit of a boost in New Zealand later this year when the Australian-based Ethical Investment Association launches its SRI symbol in this country.
Thursday, April 20th 2006, 6:37AM
The symbol (right) which denotes Socially Responsible Investments has helped grow this form of investment in Australia since it was launched last year, EIA vice president Simeon Michaels says.New Zealand’s foremost SRI financial planner Rodger Spiller says he is detecting a change in the market and he is now getting calls from financial planners wanting to know how to deal with clients who want SRI investment requirements.
Also a question in the ANZ-funded Retirement Commission survey of financial knowledge pointed to a latent demand for SRI.
Seventy-one percent of people surveyed said it was very important to them to take ethical, environmental and social factors into account when making investment decisions.
Michaels says New Zealand is probably around five years behind Australia in the SRI area. Across the ditch there are about 40 SRI funds including some property ones, and the level of asset growth has been strong.
While the investment market is behind Australia, the New Zealand government is well ahead of its trans-Tasman counterpart.
Michaels says the New Zealand government understands that companies who are positioning themselves to adapt to issues such as climate change and peak oil will be ones which are economically successful.
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