HDFC Life becomes signatory to United Nations - supported Principles for Responsible Investment

Mumbai, Apr 29 HDFC Life recently signed up for the UN-supported Principles for Responsible Investment (PRI), epitomising its objective of sustainable growth and long term value creation.

HDFC Life is committed to following the principles of Responsible Investment (RI). The Company believes that as an active asset manager for policyholders, who have entrusted their savings with HDFC Life, it is the Company's fiduciary responsibility to generate optimal risk adjusted returns over the long term. This objective can be served by following the RI approach which includes core stewardship principles and consideration of environmental, social and governance (ESG) factors in addition to financial parameters and outlook, while making investment decisions. This framework complements HDFC Life's philosophy of achieving sustainable growth. The Company currently has Assets Under Management of over Rs. 2 lakh crores.

Commenting on the development, Vibha Padalkar, MD & CEO – HDFC Life, said "We are pleased to announce our association with the PRI. We endeavour to grow holistically and sustainably by continuing to invest in the five pillars of our ESG strategy, namely - ethical conduct, responsible investing, diversity, equity & inclusion, holistic living and sustainable operations.

As a steward for responsible investment, we have been actively applying the ESG approach in our investment decisions. Our alliance with the PRI will further enable us to streamline our responsible investment framework as well as adopt and share the industry and global best practices. Additionally, to promote awareness about ESG amongst policyholders, we recently launched an ESG focused

'Sustainable Equity Fund' and the same is available in our Unit Linked Insurance Plan (ULIP) offerings.

Further, our sound governance practices have been widely recognised – we have won the 'Best Governed Company in the listed segment: Large category' award at the 21st Institute of Company Secretaries (ICSI) National Awards for Excellence in Corporate Governance.

We believe that sustainability is a shared goal. Collaborative efforts by organisations across the world towards implementation of good governance practices, investment in responsible businesses, judicious utilisation of resources and inculcating a culture of giving back to the society, will help in creating a robust business ecosystem and long-term value for all stakeholders. PRI's mission of bringing all such organisations on a common platform is an initiative in the direction of building a sustainable future. We aim to contribute towards this initiative and demonstrate our commitment to build a greener and prosperous society."

David Atkin, CEO at the Principles for Responsible Investment, commented: "We are pleased to welcome HDFC Life as a signatory to the PRI and welcome the organisation's acknowledgement of the role responsible investment practices have in securing long-term risk adjusted returns for clients. We look forward to working with and alongside the organisation as it continues to expand the scope of its responsible investment practices."