Milena Beneva
Implementation of Environmental Factor in Pension Investments
Summary:
Modern financial markets create a new criterion for evaluating the investment performance of companies - a multidimensional approach that combines the financial, social and environmental aspects together. A sustainable and responsible investment approach is perceived as a long-term driver of value and many institutional investors around the world, incl. pension funds, integrate it into their traditional investment process. At the same time, Bulgarian private pension funds either neglect (underestimate) the issues of sustainable development, or changå their investment policy too timidly and uncertainly.
After an in-depth analysis of the sustainable and responsible investment practices imposed by the ecological leaders among the pension funds, the current research paper offers an adapted model for integrating the "green" investment trend, consistent with the organization and development of voluntary private pension funds in Bulgaria.