The Stanbic Investment Management Services (SIMS) has launched its Responsible Investing and Corporate Sustainability Initiative, themed “Bridging the Gap: Profit and Purpose.”
The initiative, launched at the Kempinski Hotel on June 12, aims to raise awareness of the value proposition of responsible investing and capacity building among investors, issuers, and the general public, as well as positioning SIMS as the asset manager of choice for Environmental, Social, and Governance (ESG) and SDG-aligned investments.
Speaking to ChannelOne News on the sidelines of the event, the Managing Director of Stanbic Investment Management Services Limited, Kwabena Boamah, affirmed the company’s commitment to inclusive growth and sustainable development.
He said, “We believe that good stewardship goes beyond good governance. It also includes the need to ensure that our environment is safe, sustainable, and more importantly, we have a society that is inclusive of all, leaving no one behind—the physically challenged, women, young, and the elderly.
“We want to ensure that the businesses in which we invest not only generate profitability but are also mindful of the kind of profit they generate—profit that does not harm the environment, that is not detrimental to society, but that drives overall wealth for all.”
Meanwhile, the Advisor for IFC-supported Sustainable Banking and Finance Network (SBFN), Nuru Mugambi, speaking as the guest speaker at the event, emphasized SIMS’s timely initiative in promoting a sustainable and resilient environment.
Nuru Mugambi stressed the urgency of adopting ESG (Environmental, Social, and Governance) and impact investing strategies to promote sustainable development and resilience, suggesting that failing to do so could result in similar or worse economic disruptions than those caused by the pandemic.
“The coronavirus pandemic eroded economic GDP by about 3% on average, probably more in some cases. According to the Africa Development Bank, we expect that climate change will erode our GDP by 3-5%. So, if you remember the loss we experienced and the spike in inflation rates, we should expect five times worse with climate change if the effects unfold as we expect by 2030, which is not far away.”
“Therefore, if we do not invest with an ESG lens and an impact investing lens to promote sustainable development and resilience, we should expect the same result as the pandemic. Therefore, I believe that what SIMS is doing is not only necessary but timely,” she stated.
The launch also featured a panel discussion with industry experts, including Paul Ababio, Deputy Director-General of Finance at the Securities and Exchange Commission; David Tetteh-Amey Abbey, Deputy Chief Executive of the National Pensions Regulatory Authority; Amma Lartey, CEO of Impact Investing Ghana; Naana Winful Fynn, Regional Director for West Africa at Norfund; and George David Allotey, CIO of Stanbic Investment Management Services LTD.
The Responsible Investing and Corporate Sustainability Initiative marks the start of SIMS’ efforts to improve business practices and integrate ESG factors into its investment strategy.
The initiative aims to deliver value to all stakeholders, not only through financial returns but also by making a positive impact on society and the environment.
SIMS plans to collaborate with issuers to enhance their sustainability practices and with investors to drive positive change.
The event was moderated by Citi FM/ChannelOne TV General Manager Bernard Avle.
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