ABN Amro expands socially responsible investing

Following the successful establishment of its sustainable sector funding in Sweden and Brazil, ABN Amro Asset Management has revealed plans to re-open the issuance of shares in its Green Fund to expand the geographical reach of the program.

The Dutch bank said that having achieved a market leading position in Sweden and Brazil in socially responsible investing (SRI), the investing in sustainable companies, it will now roll out its successful concept in France, Germany, the Netherlands and the UK. ABN Amro Asset Management plans to launch several new sustainable funds over the next two years. ABN said it expects to re-open the issuance of shares in the ABN Amro Green Fund before the end of this year, which it expects will bring in a total around E70-90 million. The decision to expand its green fund comes as ABN has forecast strong growth in the sustainable investment market in the foreseeable future. European sustainable assets under management were an estimated E93 billion in 2004 and are forecast to grow to E173 billion by 2008. According to the bank, the future looks bright for sustainable investments, because both retail and institutional investors are becoming more aware of the relevance of environmental, social, and corporate governance factors for financial performance.