Toronto-based Bullion Management Group Inc. (BMG) has become an associate member of the Social Investment Organization (SIO), the company announced Wednesday.
The SIO is the national association for the socially responsible investment industry in Canada, with a primary mandate of providing a leadership role in furthering the use of social and environmental criteria within the Canadian investment community.
BMG is Canada’s first, precious metal’s company to join the SIO. BMG seeks to continually pursue the highest global standards for bullion purchase, storage, integrity, transparency and security for its clients and has already been accepted as an Associate Member of The London Bullion Market Association (LBMA).
A report released in January 2013 by the SIO states that socially responsible investment assets in Canada have climbed dramatically, showing growth in virtually every major market segment and outpacing the overall growth rate of the total assets under management.
Investors embrace SRI for extra due diligence
“Our SIO associate membership is one more way for BMG to extend its commitment to provide uncompromised bullion,” said Nick Barisheff, CEO of BMG. “Anyone who monitors the gold mining and refining industry knows that with the 12-year rise of the gold price, illegal, unethical mining and refining operations have emerged across the developing world. Investors in BMG’s funds and BullionBars program must be confident that bullion purchased and stored on their behalf is obtained from ethical and legal sources.”
As an associate member of the LBMA, BMG and its clients benefit from the LBMA Responsible Gold Program, in which the LBMA requires all refiners producing Good Delivery gold bars to comply with the LBMA Responsible Gold Guidance. The Guidance aims at combating systematic or widespread abuses of human rights, avoiding contribution to conflict and expects refiners to comply with high standards of anti-money laundering and combating terrorist financing activities.