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Basel WM signs UN responsible investment initiative

Basel WM signs UN responsible investment initiative

Basel-based wealth manager Tareno has signed up to the United Nations-backed Priciples for Responsible Investment intiative, the firm has announced.

The firm underwent this process in November and is now commited to the intiative's six main principles.

These include the incorporation of ESG issues into the investment analysis and decision-making processes. The initiative also encompasses ownership policies and practices, seeking appropriate disclosure on ESG issues by the entities in which the company invests.

The aim is to promote acceptance and implementation of the Principles within the investment industry, working to enhance the firm's effectiveness in implementing them and reporting back on its progress in this regard.

Speaking to Citywire Switzerland, Josef Bollag, CEO of Tareno, said the main driver behind the firm's decision was its in-house Tareno Water fund.

The strategy has recently reached its tenth anniversary, which spurred its fund managers, Sybille Wyss and Bollag himself, to rethink the fund's investment approach.

Bollag said technology improves transparency when it comes to environmental stewardship, social impact and increased respect for universal human rights.

Wyss added that companies quailifying for the fund are now assessed on their sustainability with help of modern information technology and artificial inteligence. This allows the team to process ESG information almost in real time.

Commenting on the development Bollag said: 'We believe that ESG integration goes hand-in-hand with our objective to achieve solid financial returns while at the same time managing risk and taking into account companies’ ESG performance.'

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