Neuberger Berman Group has joined the ranks of fund managers, signing up to the Principles for Responsible Investment (PRI).
Paul O'Halloran, senior vice president of Neuberger Berman's Australian business said the principles align with the company's philosophies and practices – research driven, long-term investing.
He said the firm's socially responsive fund has a long history built on environmental and social corporate governance (ESG).
"The Australian investment industry, as a collective, is a particularly strong supporter of the PRI initiative, and we believe it is important for Neuberger Berman to make this commitment," O'Halloran said.
The PRI were established in 2005 by institutional investors to recognise the potential impact of ESG on long-term investing. Signatories agree to follow and promote the acceptance of ESG in the industry.
The combined signatory firms manage over USD $30 trillion.
