ABSTRACT
Returning to the question of whether pension funds can become a new driver for sustainable development, the possible answer can be ‘yes, but . . .’. Looking at their financial clout, pension funds represent the largest source of long-term investment in most capital markets. Because of the shift from state pension systems to occupational and individual schemes, their size will tend to increase in the mid-term. The analysis of different markets points out increasing interest and money from pension funds in SRI. This market trend has built on a long tradition in the UK and US and recent initiatives in continental European countries such as Switzerland, France and Italy. Some of the concrete figures provided by certain organisations are questionable, such as the impressive 13% market share of SRI investments reported within the institutional market in the USA.
