IMM Investment joins UN-backed initiative on responsible investing

IMM Investment has joined a United Nations-backed global initiative on responsible investment, the Seoul-based alternative investment firm said Friday.

Established in 2006, the United Nations Principles for Responsible Investment (UN PRI) aims to help investors incorporate environment, social, and corporate governance (ESG) values into investment decision-making and promote collaboration among member companies, or “signatories.” The initiative had over 5,300 signatories as of March 2023. According to its latest data, the UN PRI signatories represented total assets under management worth $121.3 trillion in total by the end of 2021.

IMM Investment, founded in 1999, is Korea’s largest venture investor managing assets worth about 7 trillion won ($5.3 billion) as of February. The company officially joined the UN PRI membership as a signatory in January.

IMM Investment has been bolstering responsible investment practices, setting ESG standards for its portfolio companies throughout the investment and post-management process. The firm adopted a stewardship code — a set of guidelines aimed at active shareholder engagement to ensure responsible corporate management — in 2022. It made public its policies on responsible investment practices as a trustee. It also set up an ESG committee to address relevant issues.

“Our recent membership in UN PRI reflects a strong commitment to fulfilling a higher level of responsibility and obligation in sustainable investing than ever before,” said an IMM Investment spokesperson, adding “We will continue considering various environmental and social aspects in investment decisions.”

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]