BP chooses Innovest for sustainability
UK/US - BP Investments, the investment arm of British Petroleum’s £13bn (€20.6bn) pension fund, has appointed Innovest Strategic Value Advisors to provide company and industry sustainability research.
Innovest, a US-based environmental and social research and advisory firm, will focus on companies’ risk, performance and strategic positioning with regard to environmental and social issues, with a particular emphasis on their impact on the portfolio companies’ financial performance and competitiveness.
“There is an increasingly compelling body of evidence – both practical and academic – that companies’ performance on environmental and social issues has a direct impact on their medium and long-term financial performance”, says Jim Martin, chairman of Innovest.
“Environmental and social issues are likely to have a greater and greater impact on portfolio companies’ competitiveness, profitability, and share price performance going forward’, adds Martin.
Innovest currently has over $1bn under direct sub-advisory mandates, with institutional clients including CalPERS, the largest US pension fund, and Dutch ABP, Europe’s largest pension fund.