Belgium
With its creation in 1984, the Belgian SRI market was composed almost exclusively of saving products (Krekelsparen in 1984, and l’Epargne Cigale in 1987). The SRI products - mostly SICAV -, as for them, did not make real great progress until 1997. Since, the offer has increased. At the end of March 2005, the Belgian SRI market offered 76 socially responsible products, against 70 in 2003, which is an increase of 8.5% in a little more than one year. Belgian SRI products are composed of 72% of investment funds, 17% of other savings formulas and 11% of savings accounts.
In the first quarter 2005, the Belgian SRI market represented 3.5 billion euros, with 85% in investment products (3 billion euros) and 15% in savings products (518 million euros). Thanks to the 1.3 billion euros placed in SRI Funds, approximately 2.07% of the total capital placed in funds is invested in an ethical or durable way. This represents a clear progression compared to the end of 2003 (1.17%).
Compared to European data, Belgium places itself in 5th position and accounts for 8% of the socially responsible capital placed in Europe (Source SIRI Group).
(source: Réseau Financement Alternatif)
Some facts about the Belgian market:
- SRI Market Size: more than 3,5 billion euros (31/03/2005) – 2% of the whole of capital placed in funds
- Influential actors: Dexia (58%) – KBC (21%) – Fortis Group (14%) in 2005
- Leading Strategies: the use of positive criteria and best-in class approach are the leading principles. Major player here used to be Ethibel/Stock at Stake but in practice there is nowadays a tendency to more in house screening by the asset management itself.
- Number of funds: 76 SRI products (31/03/2005)
- Legal Milestones: 2003 Wet Aanvullende Pensioenen (Supplementary Pensions) – 2004 – 2008 Federal Plan Sustainable Development
- SIF (yes/no): yes
For more information on SRI in Belgium please visit: www.belsif.be
