Abrdn said the institute model is "designed to develop sustainable investment solutions for clients, and in the Americas it will drive efforts to deliver new products and offerings across asset classes" and also "align and apply consistent standards, methodology and reporting" while leveraging the firm's "global perspective in influencing issues that affect the firm's clients and engagement with invested companies."
A spokesman for abrdn said by email that the institute will be based in Philadelphia and that its "board of participants is being chosen this week from around the functions in the region to include investment, product, distribution, marketing, legal and compliance and other corporate team members as suitable." He added the institute and its "activities will sit within the Global Sustainability Group at abrdn."
In connection with the launch, abrdn has appointed Fionna Ross as sustainability investment specialist and head of the Sustainability Institute, Americas. In her new role, Ms. Ross reports directly to Ralph Bassett, abrdn's head of investments, Americas.
Ms. Ross most recently served as senior ESG analyst for abrdn's U.S. equities franchise.
Regarding a potential successor for Ms. Ross, a spokesman for abrdn said by email: "We're actively searching for her replacement; she'll continue to oversee our engagement on U.S. equities until that person is identified, in addition to the Institute role." She’ll also continue to be involved with abrdn’s U.S. equities team in her new role.
As of June 30, abrdn had about $616 billion in assets under management.
