The Responsible Investment Association Australasia (RIAA) has secured an extra $2.5 million in Federal Government funding for its training academy.
The Federal Government's Department of the Environment, Water, Heritage and the Arts and the Victorian Environmental Protection Authority have already funded the academy.
"RIAA gratefully acknowledges and applauds the Government for providing the funding which will help to establish this world-first initiative," RIAA executive director Louise O'Halloran said.
"We will continue to work with industry partners and other government agencies to create the broad partnership network which will be required to ensure the academy's long-term academic and financial success."
The academy was established in June 2008 to provide training on responsible investment. The body is headed up by former ARIA chief executive Steve Gibbs.
Organisations representing 50 and 60 per cent of all funds under management in Australia are signatories to the United Nations Principles for Responsible Investment, according to O'Halloran.
"Yet there is still no formal, academic-level training program available for investment professionals to develop skills in the area," she said.
