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Article

1 Sep 2010

Author:
SOMO

[PDF] Investing Responsibly: A Financial Puzzle - The Limited Scope of Sustainable Asset Management

This paper aims to contribute to a public debate about a more consistent and transparent application of CSR policies in the financial sector, especially with regard to asset management...[It] centres around these and related questions. It looks in detail at...[t]he existence, scope and application of CSR policies with regard to asset management, especially concerning mainstream investment portfolios and the existence and application of concrete exclusion criteria...[and]... [t]ransparency concerning these policies and practices...The study focuses primarily on...ING Group, RBS Group, Deutsche Bank, BNP Paribas and Santander Group. In order to provide a broader picture of alternatives on the market, two other Dutch banks are included in the study, Triodos Bank and SNS REAAL...In order to ensure detailed information, SOMO asked the seven selected banks to provide data by means of an online questionnaire. In addition, a provisional version of this paper was sent to the banks to give them the opportunity to correct any factual inaccuracies. Out of the seven banks, six cooperated and Santander did not...With the exception of RBS Group and BNP Paribas, all of the banks have some kind of CSR policy on most of the thirteen focus areas...[however] the major European banks often do not apply CSR policies to asset management activities, regardless of whether it concerns the bank’s own money or the assets and funds which are managed on behalf of clients.