In this seminar, the CEO of Japanese branch of a British asset manegement company explained their social investment style.
Most of what he said was within my imagination, but he provide me two new perspectives.
One is a action about shareholder (so called "engagement").
Unlike ordinary asset management companies, the company takes care of the behaviors as a stockowner especially about social matters.
The firm aggresively makes dialogs with listed companies and votes on some issues to make the companies to which the firm invests more sustainable and ethical.
Another feature is the position of securitiy analysts.
Generally speaking, the role of buyside analysts is to provide useful information to fund managers.
So, analysts never have any dicision rights to manage funds.
However, the situation in the firm is different from ordinary asset management firms.
The head of analyst team about social responsibility has veto on portfolio.
If the head judge that some securities should not be invested, the fund manager can not obtain them.
Of course, positive screening is couducted in early phase, but the company pay much attention to avoid investing reprehensible cooperations.
I was very delighted to learn them because these points were very what I had wanted to know.
I deem that Japanese SRI will be more effective in that such investment will change the business of invested cooperations if Japanese asset management firms carry out both aggresssive engagement and strict screen for social responsibility.
After the seminar, I had drunked with the lecturer, the commentators and members of SIF-Japan.
Then I talked with Mr.Kanai, one of opinion leaders in SRI field.
He is my hero since I read a book about SRI written by him (at the bottom of this article). So, I wanted to have a converstation with him.
I told him my dreams, career perspective and passion to social finance.
I agree with my opinions and advise me for some points.
One of his advices was that I should make connections with others (including him) more aggressively without any comprehension.
He said "If you have passion for something, you should not worry about no matter what you will face.". He also suggested me some favor. I deeply appreciated him.
Next day, I sent a e-mail to the lecturer and Mr.Kanai. and I accepted replyies from both of them.
The former proposed a lunch with me and now I plan it.
The latter gave me kind message.
In sums, I learned not only about SRI but also about how to live in this seminar.
I will never forget what I feel at that time.
- CSR経営とSRI―企業の社会的責任とその評価軸/足達 英一郎