"Implementing the principles put forth by this worthwhile organization is the correct and natural progression for us in the continued evolution of C.S. McKee’s sustainable investment practices,” said Mark Gensheimer, President of C.S. McKee.
PITTSBURGH (PRWEB) November 12, 2020
C.S. McKee today announced its decision to sign on to the United Nations-supported Principles for Responsible Investment (PRI). The PRI is recognized as the leading global network for investors who are committed to integrating environmental, social and corporate governance (ESG) considerations into their investment practices and ownership policies.
“After careful evaluation of what the PRI represents, we decided that implementing the principles put forth by this worthwhile organization is the correct and natural progression for us in the continued evolution of C.S. McKee’s sustainable investment practices,” said Mark Gensheimer, President of C.S. McKee. “At the same time, as long-term investors, we are by our very nature focused on environmental, social and governance (ESG) factors and the responsible stewardship of the portfolios we manage for the benefit of our clients,” he said.
“We applaud this step that C.S. McKee has taken and congratulate our C.S. McKee colleagues,” said Mark Goodwin, Co-Founder and CEO of North Square, the parent company of C.S. McKee.
“We are delighted that C.S. McKee has joined the PRI and by so doing, publicly affirmed their commitment to responsible investment,” said PRI CEO Fiona Reynolds. “They’ve set a standard, which other investors will hopefully emulate and we look forward to working with them in the coming months.”
The PRI was formed in 2005 when then-UN Secretary General Kofi Annan asked a group of the world’s largest institutional investors to help draft the Principles for Responsible Investment. The 20 people in the investor group — drawn from institutions in 12 countries — were supported by an additional 70 investment, governmental, social and environmental experts and the PRI was launched in April 2006 at the New York Stock Exchange. It reflects the increasing relevance of environmental, social and corporate governance issues to investment practices.
The Principles for Responsible Investment are a voluntary and aspirational set of investment principles that offer a menu of possible actions for incorporating ESG issues into investment practice. The Principles were developed by investors, for investors. In implementing them, signatories contribute to developing a more sustainable global financial system while continuing to seek good investment returns for their clients.
“To paraphrase a description of the Principles, we at C.S. McKee believe that, as institutional investors, we have a duty to act in the best long-term interests of our beneficiaries. In this fiduciary role, we believe ESG issues can positively affect both the performance of investment portfolios and society,” Gensheimer said.
“In signing on to the Principles, we publicly commit to adopt, consider and implement them, where consistent with our fiduciary responsibilities to our clients. We also commit to evaluate the effectiveness and improve the content of the Principles over time. We believe this will improve our ability to meet commitments to our clients and their beneficiaries and at the same time better align our investment activities with the broader interests of society.
We encourage other investors to adopt the Principles.”
About C.S. McKee
C.S. McKee is an institutional investment management firm based in Pittsburgh, PA with more than $7 billion under management as of September 30, 2020 in taxable fixed income, equity and multi-asset portfolios. The firm was founded in 1931 and became a Registered Investment Advisor in 1972. C.S. McKee’s business was acquired by North Square in 2020. McKee’s clients include pension funds, profit-sharing plans, reserve funds, operating funds and other financial assets for states, counties, municipalities, unions, financial service companies, corporations, endowments and foundations, hospitals, universities, religious organizations and other institutions. Learn more about C.S. McKee at http://www.csmckee.com.
About North Square
Founded in 2018 and headquartered in Chicago, Illinois, North Square Investments is an independent, multi-boutique investment firm dedicated to delivering differentiated active investment strategies to the market. With an experienced senior management team, a board composed of industry veterans including John Amboian, Neil Cummins and Brian Gaffney, and backed by Estancia Capital Partners, North Square is a leader in aggregating high quality, alpha-generating active strategies to assist financial intermediary partners in building superior risk-adjusted portfolios for the benefit of their clients. Learn more about North Square Investments at http://www.northsquareinvest.com.
CSM LLC (d/b/a C.S. McKee) and North Square Investments, LLC are investment advisers registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about the companies’ investment advisory services can be found in their respective Form ADVs, which are available upon request. Past performance is not indicative of future results. The investment strategy or strategies discussed may not be suitable for all investors. Investors must make their own decisions based on their specific investment objectives and financial circumstances.