Origin of the approach

As early as 2005, ERAFP’s board of directors decided to implement an investment policy that consistently and permanently factored in the pursuit of the public interest. This led to the adoption in 2006 of an SRI Charter that specifies the orientations, vehicles and resources needed to apply this socially responsible investment policy.

The five values of the Charter

  • Rule of law and human rights
  • Social progress
  • Social democracy
  • The environment
  • Good governance and transparency
In 2007, this Charter was used as the basis for an SRI process, which outlines in detail and “renders operational” the values and implementation principles set forth in the Charter. For each asset class or issuer category, it specifies a detailed and defined framework of criteria and the implementation methods for the best in class principle.

In 2012, this process was supplemented by the adoption of shareholder engagement guidelines.

While ERAFP's approach is now well established and recognised, it now needs to show evidence of:
  • its positive impact on the environment and society in general,
  • and its efficiency in protecting ERAFP, at least partly, against risks related to climate change.
With this in mind, as from end-2013 ERAFP committed to measuring the greenhouse gas emissions caused by its investments (initially for listed equities) and to comparing them with a standard market index (see “Combating climate change”).