ShareAction is planning to launch a Responsible Investment Network for operational charities alongside its existing network for endowed trusts and foundations.

ShareAction established the Charities Responsible Investment Network for endowed trusts and foundations in the spring of 2013 as a way for its members to "fulfil their charitable purposes through shareholder engagement with companies".

Catherine Howarth, chief executive of ShareAction, told delegates at the Charity Finance Summit yesterday that: “We are looking to launch in the next 12 months a sister network for operational charities.”

She added that she planned to “tweak” the formula “to reflect the differences that exist between endowed trusts and foundations and operational charities, but keep the same fundamental thesis which is that trying to be constructive partners in dialogue to encourage them down the track would see the fulfilment of some of the charitable aims”.

The network for foundations has more than doubled in size since it was set up with seven grantmaking bodies, and now has 16 members.

Comic Relief, which came under fire last year over investments in arms and tobacco companies and has since implemented a new policy, has recently joined the grantmakers’ network.

Howarth said that Comic Relief would be able to bring “knowledge on the ground” of working with African companies to discussions with multinational companies.