The newly formed Sustainability Group will provide subject matter expertise to abrdn’s investment processes and support its sustainable investing value chain through generating insights; setting frameworks and standards; ensuring active ownership; and supporting product design and commerciality and client reporting and outcomes.

Previously Global Head of Responsible Investment, Amanda’s new role will see her sit on abrdn’s Investment Vector Executive for investments to ensure that sustainability remains core to its work, meeting clients’ needs and regulatory requirements. She will report to abrdn’s CEOs for investments, Chris Demetriou (UK, EMEA & Americas) and Rene Buehlmann (APAC).

To support her role, Amanda has made a number of key leadership appointments to the Sustainability Group, effective from 1st April:

Danielle Welsh-Rose, Head of Sustainability APAC and Head of Sustainability Specialists

In addition to taking on the newly created role of Head of Sustainability APAC, Danielle will lead the group responsible for ensuring that abrdn’s client proposition continues to evolve to meet current and future demand. She will also lead the development of abrdn’s sustainability training academy “Grow Sustainably”. Danielle sits on the Executive Leadership Team in APAC and is Head of Sustainability Institute – APAC*. Her previous role was ESG Investment Director (APAC).

Mike Everett, Head of Active Ownership

Mike will continue to lead abrdn’s Active Ownership team who work with teams across the investment vector to ensure that active ownership, including engagement and voting activities, remain at the heart of its investment process. His previous role was Head of Stewardship.

Eva Cairns, Head of Sustainability Insights and Climate Strategy

Eva’s team will lead the sustainability research, climate strategy and thought leadership for investments, through strong partnerships across abrdn. They will ensure that its research is core to sustainability standards, innovation and the client proposition. The team will continue to work with the abrdn Research Institute and across the research functions within each of the investment teams to ensure they capitalise on abrdn’s research capabilities. Eva’s previous role was Head of Climate Change Strategy.

Dan Grandage, Head of Sustainable Investing

Dan will lead efforts in building abrdn’s common approach to sustainable investing across abrdn. This will include setting the sustainability standards and building investment frameworks for the house and abrdn’s sustainability funds, with ESG integration remaining a core part of the investment process within asset classes. Dan’s previous role was Head of ESG, Real Assets in which he will still retain involvement and oversight of.

Amanda Young, chief sustainability officer, abrdn, said: “As client expectations continue to focus increasingly on material ESG matters, we must continue to evolve as an active asset manager to provide solutions which meet these expectations. As part of our on-going commitment to achieve this, and to invest sustainably, we have created the Sustainability Group which is a central component to our investment process.

“The Sustainability Group will continue to coordinate and set the abrdn house view and standards on sustainability matters including climate change, corporate governance, voting and active ownership to support the investment teams in delivering a coherent ESG integration and engagement strategy. More broadly, our strong leadership team will help drive abrdn’s Sustainable Investment approach forward, working to influence external bodies on governance, sustainability, engagement and regulatory matters.”

Brett Jollie, Managing Director, abrdn Australia, said: “At abrdn we integrate ESG considerations into every stage of our investment process, working closely with our companies, clients and regulators to help shape the world around us.

Client demand for Sustainable Investment products is evolving rapidly and The Sustainability Group will help ensure abrdn builds on its position as an ESG pioneer and market leader for the benefit of all our stakeholders.”

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Amanda Young

The Financial Services Council and First Nations Foundation congratulate AUSTRAC for the release of its guidance note to aide the identification of people of Aboriginal and Torres Strait Islander heritage (Guidance) announced at the FSC Leaders’ Summit yesterday.

For over two years, FNF and the FSC have sought improvements to AUSTRAC’s guidelines to allow FSC’s members to better identify and engage with Indigenous Australians.

“Allowing financial institutions to tailor identification of customers of Indigenous heritage will boost financial inclusion.” Andrew Bragg, FSC Director of Policy said.

“The present law prevents financial institutions from taking cultural factors into account when legally identifying and engaging with the first Australians.”

“This issue is particularly pronounced in remote communities where drivers licences and passports can be extremely rare,” Mr Bragg said.

“In a world strangled by red tape, Aboriginal and Torres Strait Islander communities are often left out. Cultural practice may require you to change your name if it coincides with a relative who just died, an arbitrary date of birth may have been chosen for you which is not accurate, or your name is too challenging for Western spelling,” said Amanda Young, CEO of the First Nations Foundation.

“It is a breath of fresh air for AUSTRAC to have found a common sense approach which can satisfy all needs and they are to be commended for this Guidance. We hope the financial sector pick up on this leadership and adopt the same practice so our First Nations people are included financially,” Young said.

For example, a common challenge the Guidance specifically addresses, is the difficulty around identification that occurs when a family member has passed away. As is customary in Indigenous culture, the name of a deceased family member may not be used for a period of time after their death.

Many Indigenous Australians who share a name with a deceased person often subsequently change their name. Without official identification, such as a passport or drivers’ license, verification of the new name becomes challenging for financial institutions and hampers the payment of insurance claims or superannuation to beneficiaries. For such a situation, the Guidance approves processes of verification based on reference letters by an acceptable referee, such as a doctor.

These same verification processes can also be used by individuals for setting up bank accounts, superannuation and insurance services. Indigenous community cards are also listed as an acceptable form of identification. As such, the Guidance paves the way for financial institutions to facilitate greater financial access to Aboriginal and/or Torres Strait Islander communities.

The First Nations Foundation, supported by the FSC as a community partner, is the only nationally operating Indigenous charity solely dedicated to improving financial well-being.

The AUSTRAC guidance can be found at here. The FSC also acknowledges the contribution of the Indigenous Super Working Group towards this achievement, which includes representatives and members from the Australian Institute of Superannuation Trustees, the Association of Superannuation Funds of Australia, First Nations Foundation, as well as the FSC.

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Amanda Young

Global investment manager, Standard Life Investments has issued a White Paper examining the rise of the millennials and their impact on values-based investing. It explores millennials’ potential impact on traditional financial management, as well as the many opportunities they create for the industry.

The report highlights that millennials want to invest in companies that achieve positive social outcomes and new products will need to be created that reflect their attitudes and beliefs. For example, impact investing has grown in prominence in recent years, driven primarily by millennials looking for investment vehicles that make a difference to the world. At present impact investing remains on the fringes of the asset management world but this looks set to change as an increasing number of millennials start investing.

In addition, a recent Standard Life Investments YouGov poll on values based investing showed a strong link between age and values. The younger groups surveyed (those between 18 and 24), who were investors, having the strongest inclination towards investing in companies that achieve positive environmental and social outcomes*. This trend decreases with age. The survey also found that:

• Nearly half (48%) of respondents* affiliate with some form of principles led investment
• Nearly half (45%) of investors* feel strongly about the environment
• 63% of respondents* think values based investing delivers the same or better financial returns
• 47% of respondents* have boycotted a company or brand because they disagree with the ethics of their behaviour
• Only 27%* have no ethical concerns that would impact investment decisions

Amanda Young, Head of Responsible Investment, Standard Life Investments said:“For the investment industry, the need to be as transparent and accessible as possible will be a key driver in building trust with millennials. Products will also have to reflect their beliefs and priorities. As such, the investment industry will need to consider and develop innovative ways to invest that reflect these changing attitudes. Of course, returns will remain important. However, millennials are increasingly demanding investment solutions that ensure their money also has a positive environmental and social impact. These factors will create challenges and sizeable opportunities for the investment management industry.”

The white paper and YouGov poll coincide with Good Money Week. Standard Life Investments is an official sponsor of Good Money Week. The UK wide initiative runs from 18th to 24th October and is an opportunity for investors to ensure those they trust with their money are looking after it well and using it in ways that benefit society and protect the environment.

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* all figures exclude those who responded ‘don’t know’.
Millennials are defined as those aged 18 to 24, also known as Gen Y

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