eFinancialCareers

Ever wanted to work in finance and save the world? Here's how.

Socially responsible investment (SRI) has entered the mainstream. In the new green investment environment, lip-service is no longer an option with Eurosif saying that €1 trillion – or 15% of all European AUM – is managed under SRI mandates.

As more firms spearhead SRI initiatives, Julie McDowell, head of SRI at Edinburgh-based Standard Life Investments, gives her views on the sector’s prospects.

With varying definitions of SRI being bandied about, what exactly is it? SRI is investment that combines financial objectives with the desire to incorporate consideration of the environment, social or ethical issues. This definition covers many different approaches to SRI, from incorporating environmental and social risk, to screening out companies whose activities are considered unethical.

Some people dismiss SRI as a fad. Why do you think it is here to stay? Ideas about investing have changed and significant institutions in society are no longer comfortable ignoring the way in which they make money.

How did you come to be head of SRI at Standard Life? I started my career as a lawyer, first on Wall Street and then at the US Department of State, where I specialised in international trade issues. I started working in SRI when I came to live in Scotland, moving to Standard Life Investments in 2001. I find SRI interesting because it combines my interest and experience in working with companies with my interest in social and environmental issues.

What does your job entail? I manage the team that researches and rates companies on how they manage environmental and social issues and does the screening for our ethical funds. I spend a lot of time with the team planning our research and engagement objectives, as well as covering the extractive industries and meeting frequently with companies and clients.

What would you say to someone considering a career in SRI? I think it's a good idea to get as much experience as possible in a business environment so you can understand how companies operate.

What do you look for when hiring for your team? Business experience, familiarity with the fund management industry and a lot of enthusiasm.