Spanish financial group MAPFRE has officially announced the launch of a fund aimed at promoting the inclusion of disabled people.
MAPFRE Inclusión Responsable , whose launch had been announced in June, will invest in European companies that promote the inclusion of people with disabilities showing MAPFRE's commitments to impact and social investing, the company said in a note.
The Fund, set to be distributed across Europe, will seek financial returns while pursuing its commitments to social impact investing by buying primarily in companies actively seeking to include disabled people within their workforce.
The fund's methodology, based on a questionnaire of 40 questions, has been developed by MAPFRE AM in collaboration with the French manager La Financiere Responsable (LFR), of which the Spanish firm owns a 25% stake.
MAPFRE president Antonio Huertas said in June: "Our research has identified that companies committed to disability, have proved to be profitable, financially stable and therefore more sustainable than their competitors. We have therefore concluded that investing in such companies is not only positive for investors but is positive for society as a whole."
There are currently 902 employees with disabilities working for the MAPFRE Group, representing 2.5% of the total global workforce.
The company has set a public commitment that at least 3% of the workforce worldwide are people with disabilities by 2021.
The Fund has raised to three the number of ESG strategies the Spanish firm has, which includes the MAPFRE Capital Responsable fund and the MAPFRE Good Governance strategy.
According to a British source close to the company, the Fund has been listed in the United Nations Global Compact report as an example of best practice.
As part of MAPFRE's efforts towards sustainability, the firm joined earlier this year SpainSIF - the platform that promotes responsible investment in Spain. It is also a signatory to the Principles of Responsible Investment (PRI).