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What is PAS 7341 - Responsible and sustainable investment management about?
The importance of sustainable finance is recognized by both the investment management sector and by international policy and regulatory agendas. But how best can firms best go about putting it in place?
This PAS is part of a suite of documents that relate to sustainable finance and that have been developed in conjunction with industry and the UK Government’s Department for Business, Energy and Industrial Strategy.
Specifically, PAS 7341:2020 supports the implementation of existing initiatives (e.g. UN PRI, UK Stewardship Code, regulatory requirements for disclosure) and creates a way for organizations to adopt responsible investment management and, where applicable and appropriate, transition to sustainable investment management (in part or in whole).
Who is PAS 7341 - Responsible and sustainable investment management for?
- Investment management firms
- Fund managers
- Asset managers
- Asset owners
- Investment managers
- Investment consultants
- Fund selectors
- Pension and Lifetime Savings Association members
- Investment associations
Why should you use PAS 7341 - Responsible and sustainable investment management?
This document builds on the UK's global leadership in green finance as part of the move to a low carbon economy, and was written in collaboration with the sector.
It sets out requirements to establish, implement and manage the process of integrating responsible and sustainability considerations into investment management at the legal entity level. It includes stewardship and the levels of engagement needed to demonstrate ongoing practices and commitment to responsible or sustainable investment management.
PAS 7341:2020 covers the policies and processes needed to create and embed a responsible investment management approach. These can support an organization’s transition over time towards sustainable investment management.
The PAS underlines the importance of effective disclosure to appropriate stakeholders, and builds on existing industry guidance, principles and regulatory developments in sustainable finance.
- PAS 7341 is intended to help investment managers put the principles set out in PAS 7340 into practice, enabling them to demonstrate how they’re implementing responsible investment management across their organization and asset classes.
- It can provide a pathway towards sustainable investment management, which may begin with individual products or strategies, and cascade across an organization, should a firm wish to take this route.
- It focuses on the practical implementation of policies and sets out how investment managers can embed their responsible or sustainable investment approach in their investment processes, including investment decision making and stewardship activities, as well as the reporting on processes and outcomes.
