Old Mutual Investment Group Malawi on Wednesday unveiled the Sustainable Investment initiative which will see the group channeling its future investments into sustainable avenues.
Sustainable investment is a cross cutting approach that integrates the consideration of material environment and social and governance factors into the investment and ownership practices as a basis of making the transition to a low carbon socially inclusive economy.
The initiative is premised on the belief that companies that swiftly respond to the challenges and opportunities presented by the changing environment and society, will reap the benefits of stronger growth prospects, enhanced operating efficiencies, stronger social license to operate, and enhanced staff retention, lower cost of capital and stronger and longer competitive advantage.
Old Mutual Investment Group Malawi managing director Mark Mikwamba said the initiative will see Old Mutual channeling its investment towards priority sectors such as energy, water and agriculture development that are not only profitable but also beneficial to communities in the long run.
He said sustainability is important to not only to the environment but also to the economy and to profitability of companies and that everyone has to be concerned.
“Sadly, not much has been done in Malawi. We at Old Mutual Investment Group have therefore resolved to pioneer and shape how investment assets must be managed in Malawi going forward,” said Mikwamba.
Mikwamba said at Old Mutual Investment Group, they are also concerned about their clients, adding that for them to deliver sustainable returns to the clients there is need a sustainable environment, society and country.
He noted that the foundation of the responsible investment guide lines is an acknowledgement of the sustainability imperative which his firm believes is fundamentally changing the competitive landscape of every industry.
“We believe that companies that are able to respond to this trend and innovate early will reap the benefits of stronger growth prospects, enhanced operating efficiencies, stronger social license to operate, enhanced staff retention, lower cost of capital and, ultimately, stronger and longer competitive advantage which will result in sustainable returns for our clients.
Mikwamba said Old Mutual will work together with the Reserve Bank of Malawi, the International Chartered Accountants in Malawi (ICAM) and the Malawi Stock Exchange to enhance governance and related disclosures for the benefit of the market at large.
Old Mutual Investment Group head of sustainability research and engagement Jon Duncan described responsible investment as an important element of the group’s future plan which he said is key to enabling the long term growth of Old Mutual as an international business.
(Visited 32 times, 32 visits today)
Today’s top business story: Top Commercial Banks In Malawi
- Two acquitted in K4.3 billion RBM case – - August 12, 2022
- Shoprite confirms it will retrench staff, close shop – - August 11, 2022
- Tikudutsa muzowawa: Escom yapempha kukwezedwa mtengo kwa magetsi – - August 9, 2022