The Ethical Investment Association is to change its name to the Responsible Investment Association Australasia.
More than 85 per cent of members at a special general meeting voted for
the renaming, believing it was necessary in order to move with the
times. Executive director Louise O’Halloran said: ‘It’s important the
name of the sector’s peak body reflects the significant growth in our
industry and represents the diversity of members in the association.’
Many members thought the term ‘ethical’ was limited in describing the
ever increasing range of environmental, social and governance
investment styles and the word ‘responsible’ chimed with the title of
the United Nations Responsible Investment policy.
Peter Hall, chairman of the ethical funds manager Hunter Hall, opposed
the change on the grounds that the association had built a brand
associated with its name and that the term ‘responsible’ was more
generalized and weaker than ‘ethical’. However, the association will
still use the Ethical Investment name for its certification programme,
its financial adviser course and other retail and value-based projects.
The rebranding will take place in September.
