The Responsible Investment Association Australasia (RIAA) has secured funding from a Federal and State Government agency for its new training academy.
The Federal Government's Department of the Environment, Water, Heritage and the Arts and the Victorian Environmental Protection Authority have both provided funding for the academy.
"The funding will help us develop a business model for the academy. We will also be looking for business partners to provide us with further funding," RIAA executive director Louise O'Halloran said.
While more than 60 institutional investors and associations in Australia have committed to signing the United Nations Principles for Responsible Investment, O'Halloran said there was a skills shortage when it comes to understanding responsible investing.
"There is a massive skills gap in this area. Fund managers, brokers and organisations have to understand how to quantify intangible issues around responsible investing," she said.
The academy will provide web-based training and will be headed up by ARIA former chief executive Steve Gibbs.
