Submitted by: United Nations Global Compact
Categories: Business Ethics
Posted: Nov 17, 2006 – 01:16 PM EST
Nov. 17 /CSRwire/ - (Zürich, 17 November 2006) - The Guilé Foundation, in association with the United Nations Global Compact and De Pury Pictet Turrettini & Co., today launched the Guilé European Engagement Fund, the first fund dedicated to the UN Global Compact and its mission of advancing ten universal principles for responsible business in the areas of human rights, labour, environment and anti-corruption.
The fund is based on the concept of helping companies within its portfolio - all of which are Global Compact signatories - to achieve real impact on their corporate responsibility strategies, while at the same time adding shareholder value.
"What makes the Guilé European Engagement Fund a truly innovative investment product is the fact that it is the first investment fund so far whose selection criteria rest on mainstream financial analysis while being at the same time associated with clear ethical principles and constructive shareholder engagement," said Charles Burrus, Founder and President of the Guilé Foundation.
"This fund is an important instrument in advancing the Global Compact's principles in the financial world and in engaging companies on critical issues that are material to their operations," said Georg Kell, Executive Director of the UN Global Compact.
"Implementing the principles of the United Nations Global Compact can help companies address critical dilemmas and identify opportunities in a way that adds long-term value to the company and to society at large," said Prof. Ernst A. Brugger, President BHP - Brugger and Partners Ltd., and CEO of the Sustainability Forum Zürich.
"Rather than proposing a static and conventional "best in class" approach, the Guilé European Engagement Fund is proposing a dynamic approach with the support of the Guilé Foundation and the legitimacy of the Global Compact. Rather than judging or condemning companies, the fund will support and help them seize all opportunities offered in the field of corporate social responsibility, with the aim of increasing value for all stakeholders, including shareholders," said Melchior de Muralt, Partner, de Pury Pictet Turrettini & Co.
To promote CSR-related activities, the Guilé Foundation will engage companies in the fund's portfolio in a dialogue and offer concrete services to those Global Compact participants that demonstrate excellent financial performance. The foundation has formed a "Guilé Engagement Team" of leading CSR experts, who will work in close collaboration with the UN Global Compact Office. Their services will include:
About the Guilé Foundation
Founded in 1997, the Swiss-based Guilé Foundation focuses its activities on the ethical challenges of globalization facing entrepreneurs. In this fast-changing world, responsible managers increasingly have to deal with issues and challenges in which the quest for meaning, orientation, and values is of crucial importance. The Foundation aims at meeting these needs of entrepreneurs, managers and future leaders beyond fashion and ideologies. The content of the Foundation's programme is guided by the principles of the UN Global Compact.
About the United Nations Global Compact
Launched by United Nations Secretary-General Kofi Annan in July 2000, the UN Global Compact is world's largest voluntary corporate citizenship initiative with more than 3,000 companies in some 100 countries. The Global Compact seeks to promote responsible corporate citizenship so that business can be part of the solution to the challenges of globalization and help realize the Secretary-General's vision of a more sustainable and inclusive global economy.
About de Pury Pictet Turrettini
de Pury Pictet Turrettini & Co. Ltd. (PPT) is an independent financial advisory firm founded in 1996 with two main activities: asset management and corporate finance. PPT today employs around 25 people in Geneva and Zurich.
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