US-headquartered Mellon Capital Management, a multi-asset manager for BNY Mellon, has become a signatory to the United Nations-backed Principles for Responsible Investment, a network of international investors collaborating to enforce six principles for responsible investment.

“Our clients and colleagues are interested in how ESG issues impact our world and the economy,” said Gabriela Parcella, chief executive of Mellon Capital.

According to the PRI’s website, the six principles - devised by the investment community - reflect the view that ESG issues can affect the performance of investment portfolios. They provide a “voluntary framework” which all investors can incorporate into their decision-making and ownership practices. There are currently 1224 signatories to the PRI, of which 760 are investment managers.

“They [ESG factors] are no longer a niche studied only by sustainable investment specialists,” said Mitchell Harris, president of BNY Mellon Investment Management.

The principles are designed to focus on long-term outcomes as opposed to short-term gains for business, with the goal of improving the balance between society's present needs and shrinking natural resources. Indeed, the wealth management industry has been making more noise about ESG factors in recent years - particularly in the wake of the financial crisis - with many firms making key hires to emphasise their dedication.

Most recently, Pictet Asset Management brought in Eric Borremans as sustainability expert, a role in which he will be attached to the firm’s quantitative socially responsible investment team. Meanwhile, in May, Aviva Investors appointed Adeline Diab as head of integration for its global responsible investment team.

Mellon Capital manages $30.4 billion in socially responsible investing and ESG mandates on behalf of its clients.