Almost half the UK's fund managers are expected to support the social, environmental and ethical guidelines that the Association of British Insurers (ABI) will issue later this year. It is thought to be the first time that a set of socially responsible investment (SRI) guidelines has gained anything like this degree of support.

Craig Mackenzie, the director of SRI at Friends Ivory & Sime, says: 'I think 40% to 50% of the investment industry will sign up to the ABI's guidelines. It will be the first time the mainstream agrees to a progressive best practice SRI policy.'