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THE Government Institutions Pension Fund yesterday launched a responsible investment and active ownership policy, citing it is the fund’s duty to act in the best long-term interests of its beneficiaries.
Launched in Windhoek, the event was attended largely by asset managers, who, on behalf of the fund manage billions of dollars for the fund’s members.
Speaking at the launch, Penda Ithindi, the chairperson of the investment committee, said this new policy will facilitate the integration and implementation of environmental, social, and corporate governance (ESG) considerations into all aspects of the fund’s investment activities, as governed by the GIPF investment policy.
Once integrated into the investment policy of the fund, it would place the fund among those entities to be considered as a responsible investor.
The fund has an asset base of over N$136 billion and is the biggest in the country, and its adopted policies have real consequences in the local economy.
GIPF chairperson Nilian Mulemi said ESG has become a lens for value creation for the fund and will continue to guide investment policies and decision-making.
“There is growing consensus around the importance of private investment to scale up sustainable development, for example, build new sustainable green buildings or transform existing buildings.
“While private markets offer compelling opportunities in terms of risk and return, they also enable strong influence over the stewardship of capital from a project standpoint,” Mulemi said.
By this integration, Mulemi said the fund will drive cultural shifts and promote the ESG and responsible investing narrative through active leadership.
“Not only will this demonstrate accountability, but it will also bolster the perception of ESG as being comparable to financial reporting rather than a marketing exercise,” she said.
Also speaking at the event, ESG specialist at the fund Emilie Iyambo said it was important for asset managers to ensure that responsible investments are taken seriously and that impact is felt where the fund has its reach.
The fund has shareholding in over 700 companies all over the world.
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