The Ethical Investment Association (EIA) today launched the world's first certification program for providers of Sustainable Responsible Investment (SRI) and Ethical Investment products and services.

The SRI Symbol program has been developed in response to investor requests for help in making informed choices regarding investment opportunities that take into account environmental, social and ethical considerations as well as financial returns.

Executive Director of the EIA, Louise O'Halloran said: "With over $4 billion now invested across 100 different SRI products it became clear that investors needed help in comparing apples with apples.

"The SRI Symbol is essentially a navigational tool and aid to disclosure. It will help investors find the SRI investment that best suits their needs and values".

Created in partnership with the NSW Department of Environment and Conservation (DEC) and the Victorian Government, the SRI Symbol aims to promote consistent, standardised disclosure and education about SRI.

Victoria's Minister for Financial Services, The Hon. Andr?Haermeyer, MP said: "By driving standardisation the SRI Symbol complements ASIC's enhanced disclosure regime.  It should raise the profile of SRI and improve the quality and availability of SRI advice, products and services".
 
Four different license categories will apply to fund managers, superannuation funds, dealer groups and financial advisers.  By July 2006 it is anticipated that the Symbol will also be available to community banks, credit unions and charitable and religious investors.  

Display of the SRI Symbol will certify that a licensee has adopted educational and disclosure practices relevant to their license category. 

Applicants to license the SRI Symbol will be assessed pursuant to strict eligibility criteria by the EIA, with independent verification for the category of Fund Manager performed by global chartered accounting firm Grant Thornton.

Information relating to each Symbol licensee will be publicly available on the EIA website, which will retain responsibility for the ongoing management of the symbol program. It is expected that the scheme's first licensees will be announced in early October 2005.

For more information

If you would like to read more about the SRI Symbol and the benefits that it offers to those who complete the eligibility requirements, please click here to view the SRI Symbol industry brochure.

If you require an application form, please contact Louise O'Halloran on 02 8224 0314 or via email at louiseo@eia.org.au.

To view some of the recent press coverage regarding the SRI Symbol, please click here.