Responsible investment players team up to launch Investment Innovation Benchmark

Officials from Local Government Super, IIGCC and the EAPF are among those involved.

Several prominent figures from the responsible investment movement have teamed up to launch an initiative that they say will promote industry innovation and, in doing so, make the financial system more sustainable for pension funds and other institutions.
The initiative is called the Investment Innovation Benchmark (IIB) and draws together representatives from responsible investors and academia. They include: Bill Harnett, Head of Sustainability at Australia’s Local Government Super (LGS); Faith Ward, Chief RI Officer at the UK’s Environment Agency Pension Fund (EAPF); Donald McDonald, Chairman of the Institutional Investors Group on Climate Change (IIGCC); Andreas Hoepner, Associate Finance Professor at Henley Business School; and Geoff Trukenbrod, the former Chief Financial Officer of President Barack Obama’s 2012 re-election campaign. These figures, among others, form IIB’s Advisory Board.
Though not yet known to the public, the organisation held its first meeting at Aberdeen Asset Management in London last Friday (September 4). A website has also been created. initiative says that it is soliciting submissions for “investment innovation” in five areas: databases, products, research, standardisations and track record.
“Any organization can submit an investment innovation for consideration as a benchmark. The committee meets three times a year preceded by an IIB event at which applicant innovators present to IIB peers, asset owners and academics,” the initiative says. It added that it would also work to encourage the exchange of innovational ideas and collaboration between investors. The Advisory Board will evaluate the submissions, and if all members agree that they constitute an innovation, they will be approved.
Submissions to the IIB at the September 4 event were made by TruValue Labs, Aberdeen Asset Management, Auriel Capital, EIRIS, eRevalue, Hermes EOS, Hermes Investment Management, Nordea Investment Management, Oddo Securities, oekom research AG, Prius Partners, Quotient Investors, and South Pole Group.
The IIB will be officially launched in October.