Innovest targets Southern Europe for SRI growth
SPAIN – Innovest Strategic Value Advisors, has opened an office in Spain in response to what it says is a growing demand for socially responsible investment products in Southern Europe.
The new Madrid office will be headed by former UN-officer Carlos Bendito.
Bendito, who previously held positions at the Council of Europe Development Bank and PriceWaterhouseCoopers and has 15 years experience spanning international corporate finance, social banking and foreign investment development work, comments: “The Spanish market for sustainable investment is just about to take off.”
“If fiduciaries are to deliver optimal returns they are no longer in a position to ignore the risks posed by factors such as climate change, strategic governance malpractices and violation of human rights” he also said.
He also claimed that the current market providers were only “partially” addressing the needs of Spanish institutional investors.
In the wake of corporate scandals, Bendito said, environmental and social factors have become ”strategic risk variables with real direct and bearings on financial performance.”