Ethical finance  

The relationship between Acea and ethical finance circles has consolidated over time and the Group's economic, social, environmental and governance performances are carefully observed by the sector operators, which carry out in-depth analysis and present their findings.

The situation of the European ethical funds, up sharply between 2007 and 2010, remained stable in 2011 at the same levels seen in the previous year (886 active funds) while the value of assets under management rose 12%, reaching approximately Euro 84 billion.

The SRI (Social Responsible Investment) fund market has a consistent dimension undergoing expansion in France, Belgium, Switzerland and the UK, by now recognised as the driving-force countries in the sector. In Italy, Spain, Austria and Denmark, the sector still presents considerable margins for growth.

For greater information, consult the Green, social and ethical funds in Europe 2011 Review, edited by Vigeo (www.vigeo.com).