Bendigo and and Adelaide Bank’s wealth management division has launched a socially responsible growth fund.
The Bendigo Socially Responsible Growth Fund, issued by Sandhurst Trustees, has been certified by the Responsible Investment Association Australasia (RIAA).
Commenting on the launch of new fund, Bendigo head of wealth Paul Rohan said the fund was created due to demand from the bank's superannuation customers.
"Making good choices is important for younger members in particular and their compulsory retirement savings can now be a power for good with Bendigo, potentially over many decades," Mr Rohan said.
"To limit our environmental footprint as a bank, we make conscious decisions to reduce and offset our impact and we help others to do the same by offering sustainable products and services," he said.
Mr Rohan said Bendigo was the first Australian issuer of green loans – lower-cost loans for sustainable housing or home improvements such as water tanks, double glazing and solar energy.
"While many of our Bendigo SmartStart customers are Gen Y and Millennials, it was their parents’ generation who were largely responsible for organising some of the most significant campaigns in our modern history to protect Australia’s environment and to drive social change," he said.
RIAA chief executive Simon O'Connor welcomed the Bendigo Socially Responsible Growth Fund to his organisation's certification program.
"This fund has met our strict disclosure and verification requirements, and will be an important offering to meet the rapidly growing demand from consumers who are looking to align their savings with their values," Mr O'Connor said.
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