16 August 2010 - Penwell Dlamini (Sowetan)
The dinner at the Protea Hotel in Melrose Arch and was organised by the Community Growth Man Management Company (Comanco), which is jointly owned by Unity Incorporation (representing a group of seven trade unions) and the Old Mutual Investment Group South Africa.
Since its inception in 1992 Comanco invests in listed company’s that must not be anti-union, have democratised workplace, good governance and with environmentally friendly operations.
Comanco conducts research and assesses company management on these issues first and then interviews employees to verify if the story of the bosses is true. They also discuss with workers whether they are engaged on company policies.
After Comanco gives its thumbs up they use their shareholding to influence the company on good governance.
Jacque Williams-Calmer, chairperson of Comanco told guests that SRI still had space in the country’s development path.
She defined SRI as an investment strategy that generates attractive returns for investors through responsible investing using social, environmental, governance and ethical considerations.
“The purpose of SRI is to promote gender equity, sustainable environments and developing responsible businesses,” Willians-Calmer said.
“SRI is fighting for the soul of the nation.”
She said of a South African retirement industry worth about R3 trillion only R10 billion invested in SRI related projects.
“The reluctance of investors to invest in SRI is a major concern in a country beset with socioeconomic challenges,” she said.
She said investing with Comanco ensured a triple bottom line outcome - profit, people and planet.