FAIRR Wants Animal Welfare Higher On The CSR Agenda
(3BL Media/Just Means) - A group of investors hopes animal welfare will become a major CSR item in the future and a new initiative has been launched to encourage businesses to move that way. Called FAIRR (Farm Animal Investment Risk & Return), it was announced by Jeremy Coller, founder of UK private equity secondaries firm Coller Capital, back in February and soft launched at the ââRI Europe 2015 conference, which took place inâ London on June 2 -3.
The initiative is designed to assess risks associated with animal welfare considered as material ESG (environmental, social and governance) investment issue. Its first report is due out next month, FAIRR says on its website.
âHugh Wheelanâ,Â managing editor at Responsible Investor, said he envisioned FAIRR as a network of investors who agree to consider animal welfare as an investment/risk issue and will monitor investee companies on how they deal with itâ, â said in an interviewâ. âThe initiativeâs focus is âmainly âon animal factory farming (AFF).
Coller said he hoped animal welfare would be seen as one of the priorities for investors who have embraced the United Nations-supported Principles for Responsible Investment (PRI).
With increasing public awareness of animal welfare issues and consumer appetite for ethics, the issue is likely to gain momentum in CSR plans and actions, even though a recent report has found that corporate policies for the issue, especially in the U.S.â,â is still â"âimmatureâ"â.
Image credit: FAIRR