A platform developed by major pension providers to identify investments aligned with the UN Sustainable Development Goals (SDGs) has been acquired by impact measurement specialists Net Purpose.
APG, PGGM, AustralianSuper and British Columbia Investment Management, which launched Asset Owner Platform for Sustainable Development Investments (SDI AOP) in 2020, will now be invested in Net Purpose as a result of the transaction and will continue to “play an active role”.
The combined group aims to provide clients worth US$40 trillion AUM with “an enhanced SDG product offering”, via component datasets covering SDG outcomes and revenue, a more comprehensive product platform, and a larger dedicated team of sustainable investing experts.
Net Purpose said it will bring the SDI AOP methodology, data processing and customer functions in-house, and launch enhanced SDG classifications on the Net Purpose platform.
In a statement, the parties to the deal said it would create a unified standard to accelerate investing to achieve climate and other SDGs, marking a renewed commitment “to address market challenges of fragmented data and methodologies”.
“We have great confidence in the further development of a methodology for global investors to select portfolio companies that generate good financial returns while having a positive impact on the world,” said Lars Dijkstra, Chief Investment Officer of PGGM.
“We are honoured to join forces with four of the largest and most sophisticated sustainable investors in the world in this next chapter, and we applaud the high standard they have set for sustainable investing,” said Samantha Duncan, Founder and CEO of Net Purpose, who will lead the organisation.
