Italy looks for the next top sustainable investor

The Italian Sustainable Investment Forum (SIF) has launched the second edition of its sustainable investment award, celebrating institutions that excel in responsible finance.

Last year the award was won by Intesa Sanpaolo’s pension fund, with entries for this years’ contest accepted until June 1. Candidates will be examined by a jury and the winner will be announced in October.

The Intesa Sanpaolo group was presented its award during last year’s Sustainable and Responsible Investment (SRI) week in November.

“Since its first edition, the award has been an important opportunity to identify and highlight the best practices in Italy”, said Davide Dal Maso, secretary general of the Italian SIF.

“Furthermore, the victory of Intesa Sanpaolo has managed  to trigger a virtuous circle among the other pension schemes of the Group, that are now showing a strong interest and a real commitment on SRI. I am confident that this 2014 edition will be as successful as the first one.”

Participants can compete in six categories, which include pension schemes, foundations, insurance companies, religious and non-profit institutions and companies.

Members of the jury include Alessandra Franzosi from the Italian stock exchange, Paolo Garonna of the Italian Federation of Banking, Insurance and Finance and Mauro Maré of the association for the development of pension funds.

Ethical investment in Italy is not yet very well known, and represents a small fraction of the overall SRI market in Europe, making up €2.3 billion (£1.89 billion) out of €108 billion (£89 million).

However, the sector is gaining support and growing. Italian journalist Andrea Di Turi wrote on Blue&Green Tomorrow in November that the number of institutions signing the Chart for Sustainable and Responsible Investment, while the client base of ethical bank Banca Etica has grown by 25% in 2013.

Further reading:

Italy’s sustainable investment market comes of age

Sustainable and Responsible Investment Week kicks off in Italy

Investimenti responsabili: a glance at Italy’s responsible investment market

Money invested in UK sustainable investment funds increased 30% in a year

63% of UK investors want to be offered sustainable investment options