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Title:Compliance Manual for TC 3.0 Eurosif
Date of publishing:June 19, 2012
Also available in the following languages:Dutch, French

Compliance Manual for TC 3.0 Eurosif
June 19, 2012

At the end of 2010, Eurosif, the European Sustainable Investment Forum, has commissioned Forum ETHIBEL to draw up the specifications for the certification of its "Transparent" logo.

This logo is attributed to funds that apply the Eurosif Transparency Code. The code seeks to create transparency around the processes and principles that are used by European SRI funds. The ultimate goal is to allow the investor to make informed ethical / sustainable choices and to stimulate investment advisers in their best practices. The code was given concrete form in 2004; it was granted the "Transparent" logo in 2008 and in its content got revised in 2010. According to Eurosif, nowadays, the logo is awarded to between 500 and 600 funds on a total of 900 SRI funds.

The monitoring of the compliance of the certified asset managers with the TC is performed at the level of the local SIF’s(Sustainable Investment Forums). In order to harmonize the policies of these SIF's and to gain a better insight into the application and enforcement of the TC, Eurosif decided it was time for an objective, unambiguous and internationally applicable base to evaluate the expectations of the fund managers against.

Forum ETHIBEL took the project to heart and developed specifications, a management system for certification and an audit process for the auditors. The proposals were checked during an intensive consultation round with the national SIF’s. The final proposal reconciles the demands of Eurosif to standardization and harmonization with the level of expertise in the retail market and the leverage of the local SIF’s. Currently, the first implementation steps are prepared.