May 2011 - KfW Takes Initiative in Founding of German PRI Network

KfW has invited all German investors and asset managers who have signed the Principles for Responsible Investment (PRI) to the founding of a PRI network on 27 May 2011 in Frankfurt. The PRI are a financial initiative of the United Nations. KfW already signed the PRI in 2006; in the meantime nine German investors and asset managers have joined the PRI, while worldwide the initiative comprises almost 900 members.

The founding of the German PRI network is designed to promote exchange regarding the implementation of the six PRI and to jointly advance the topic of "responsible investment" particularly in Germany. "The PRI is a very good platform to also anchor the sustainability concept in the capital market, which is why KfW gladly took the initiative to found a network in Germany", explained Dr Michael Schulze, First Vice President of the Treasury of KfW.

"The implementation of PRI as a 'global initiative' is primarily supported through local networks. I am very pleased that in Germany as well the signatories have joined together and on the invitation of KfW have come to an initial meeting in Frankfurt to discuss common themes in more detail. We want to jointly promote the awareness for ESG (Environment, Social, Governance) criteria in the investment process. ESG has for a long time been more than a niche product and is becoming more and more a standard", said Dr Wolfgang Engshuber, Chair of UNPRI and CAO of MunichRe America in New York, on the occasion of the German network's founding in Frankfurt.