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Innovest Forms Strategic Alliance With Ethix SRI Advisors AB

Submitted by: Ethix SRI Advisors AB

Categories: Business Ethics

Posted: Mar 14, 2004 – 11:00 PM EST


Innovest Finds Strong Ally in Ethix to Introduce 2nd Generation SRI Research to the Nordic Market

Mar. 14 /CSRwire/ - New York – In line with its strategy to establish a local presence in various European countries, Innovest announces its strategic partnership with Ethix, a Stockholm-based independent SRI research firm. The deal provides a greater product range and distribution network for both companies with Innovest becoming the main distributor of Ethix screening products outside of the Nordic region.

Pierre Trevet, Managing Director with Innovest in Paris explains: “Innovest and Ethix have very little overlap in their research approaches. In fact, our research products are complementary. Innovest offers a positive Alpha-overlay based on sustainability risks and opportunities, while Ethix proposes a UN norm-based negative screening approach.” He adds, “The Nordic SRI market currently consists, for the most part, of exclusionary criteria, established after UN norms on human rights, labor and environmental criteria. What we’re now seeing is a rapidly growing demand for second generation SRI research in the region, focusing on the risk and opportunities linked to corporate sustainability.”

Ethix’s co-founder, Ulrika Hasselgren states, “There is an increasing need for specialized services with in-depth research. Through partnering with Innovest, we can provide the market with a full-fledged palette of SRI research and tools.”

Matthew Kiernan, Innovest’s founder and CEO agrees, “We are delighted to be launching a strategic partnership with Ethix. The Ethix principals are extremely well-regarded and bring a deep understanding of the unique requirements of the Nordic market. Working together, we can offer a broader suite of solutions to our clients.”

As Ethix’s other co-founder, Tord Carnlöf points out, “Innovest’s thorough experience and competence is of great value to further develop and secure the Nordic market’s access to qualified services within SRI and corporate governance. The partnership serves not only as a platform for the Nordic region but also for joint global activities.”

Innovest Strategic Value Advisors Inc. is an internationally recognized, independent research firm specializing in non-traditional sources of investment risk and out performance, including companies’ performance on governance, environmental, and social issues. Innovest’s clients include leading institutional investors throughout the world. Founded in 1995 by Dr. Matthew Kiernan, Innovest has offices in New York, London, Paris, Toronto and now Madrid. The company is chaired by Jim Martin, former Chief Investment Officer for North America’s largest pension fund, TIAA-CREF. ABP, Europe’s largest pension fund and one of the largest and most highly respected in the world, is a strategic minority investor in Innovest.

Ethix SRI Advisors AB is a Stockholm-based independent research and advisory company aimed at institutional owners and asset managers with a primary initial focus in the Nordic region (Sweden, Norway, Denmark and Finland). Ethix provides its clients with a global portfolio screening tool (Ethix SRI Global Screening), which seeks to identify companies that have acted socially irresponsible in cases of violations of international norms for human rights, labor rights and the environment. Ethix’s clients include institutional investors, which amongst others are the Seventh AP Fund and Kammarkollegiet.

Additional information is available at

For more information, please contact:

Ulrika Hasselgren Ethix SRI Advisors
Phone: +46 8 407 00 11
Peter Wilkes Innovest, New York
Phone: +1-212-421-2000 ext.


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