An online training course in sustainable and responsible investing (SRI) for financial advisers will qualify participants to display the Ethical Investment Association’s (EIA) SRI Symbol in their practices.
EIA executive director Louise O’Halloran said completion of the three-hour online course was the minimum requirement for certification to use the SRI Symbol, although for practitioners with extensive SRI investing experience, a demonstration of knowledge would be sufficient.
O’Halloran said the EIA-developed course would be delivered in partnership with the compliance division of SAI Global.
“It was vital we partnered with a training and compliance provider that has a proven global capability, real integrity, and solid track record,” she said.
Under the partnership, SAI will manage and maintain the training portal, create and deliver various formats for the course, and track and certify user data.
O’Halloran said the course and the SRI Symbol, which was released in September last year to help inform consumers about ethical investment opportunities, had attracted interest from Canada and the USA.
Locally, dealer group AMP Financial Planning signed-up to use the SRI Symbol last year, committing to encouraging its 1,300 planners to learn about SRI.
“For several years now, AMP advisers have been asking clients whether they would like to take environmental, social or ethical considerations into account in their investment decisions. The EIA’s new course will help improve the ethical investment skills of our financial advisory team,” said AMP Financial Planning chief operating officer Neil Macdonald.
According to EIA research, sustainable and responsible investment funds under management in Australia grew by 70 per cent to $7.67 billion last year, partly due to investments made by large superannuation funds.
Meanwhile, SRI research house RepuTex has removed AWB from its SRI Index after reducing its social responsibility rating in December 2005 to ‘B+’ from ‘A’ amid concerns over management practices.
RepuTex associate director of research Philip Cohn said allegations regarding AWB’s conduct in the UN oil-for-food program highlighted inadequacies in the company’s due diligence and oversight systems. RepuTex will monitor the progress of the current inquiry into AWB’s dealings.
Tabcorp Holdings was added to the index after being upgraded to ‘A’ from ‘B’ on the strength of its commitment to addressing risk associated with its social impact and corporate governance performance.
