Smarterly revealed it has become one of the first UK retail platforms to join the UN-backed Principles for Responsible Investment (PRI) initiative.

The online savings and investments platform provider also announced that as part of the initiative, it will become a member of the PRI Wealth Managers Group which will help encourage greater collaboration – bringing together similar parties to find ways to address the global issues.

With 500 signatories in the UK – as well as 3,000 globally with and a combined AUM of $89trn – the PRI is the world’s largest investor initiative to promote and develop responsible investment. Its goal is for its signatories to incorporate environmental, social and governance (ESG) factors into their investment decisions to better manage risk and generate sustainable, long-term returns.

Smarterly has joined Schroders, St. James’s Place Wealth Management and Aberdeen Standard Investments in signing up to the PRI initiative.

“We have always taken a holistic approach with the products we offer, ensuring responsible procedures and processes are embedded throughout the whole investing experience,” Smarterly head of proposition, Steve Watson, commented. “Signing up to the PRI, which is quickly becoming the kitemark for responsible investment, allows us to further demonstrate this commitment.

“In recent years, we have seen increasing demand from investors, particularly younger ones, for funds that take this commitment to ESG issues seriously. The role that pensions and savings play is huge and the biggest way to have an impact is to come together and align investment activities with the broader interests of society.

“The opportunities available now through leveraging the power of responsible investment are unequivocal. It has come down to the simple message that the more we are able to invest responsibly, the brighter the future looks.”

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