Man Group plc (Man) has become a signatory to the United Nations-backed Principles for Responsible Investment (PRI).
The PRI is a framework designed to encourage sustainable investing by incorporating environmental, social and governance issues into investment decision-making and ownership practices. Globally, there are 988 signatories, with 126 of these in the UK. Man is the largest UK-based alternative asset manager to become a signatory.
“This step is a signal of Man’s continued commitment to responsible investing. As a leading alternative asset manager, we hope that by signing up to the UN PRI we will encourage others in our industry to follow our lead,” Peter Clarke, Chief Executive of Man, said.
“Investing sustainably enhances long-term value and reduces risk which is clearly good for all concerned: investment managers, their clients, society and the environment. GLG’s efforts predate today’s formal partnership with UN PRI: addressing the UN General Assembly in 2008 on sustainable investing, implementing technology to enable portfolio managers to make more informed investment decisions using ESG and launching a specific Global Sustainability Fund, aimed at reconciling sustainability and economic returns. We are pleased to be able to commit to widening these efforts by signing up to the PRI,” Pierre Lagrange, Executive Committee member of Man and Senior Managing Director of GLG, said.
“Man’s support recognises our commitment to help advance the UN PRI agenda, and attests to the positive effects that normative, international frameworks like the PRI bring to the investment community. It also marks the next step in a process that began with our legacy in environmental funds, expanded into broader global sustainability themes and is driving our current work developing the application of sustainability across alternative strategies,” Jason Mitchell, Portfolio Manager, GLG Global Sustainability Equity Fund, said.