Submitted by: United Nations Global Compact
Posted: Oct 27, 2008 – 05:42 PM EST
Oct. 27 /CSRwire/ - NEW YORK, NY. - October 27, 2008 - In a powerful endorsement of the UN Global Compact, a group of global investors today announced a collaborative effort urging the Chief Executive Officers of approximately 9000 companies to commit to the UN Global Compact and its ten principles.
The 52 investors, managing approximately USD 4.4 trillion in assets, are this week collectively writing to companies in the MSCI World, FTSE All-World and IFC Emerging Markets Indices to ask them to sign the UN Global Compact, or explain any decision not to join the initiative.
The investors are all signatories to the Principles for Responsible Investment (PRI). They include investors based in the US, Europe, Australia and emerging markets.
"This is an unprecedented move by institutional investors", said Georg Kell, Executive Director of the UN Global Compact. "Amid the current financial crisis, this underscores the importance of universal principles and the long-term management of environmental, social and governance issues. We applaud this effort, which represents the largest recruitment drive ever undertaken with respect to the UN Global Compact".
For more information contact Elliot Frankal, PRI communications manager on + 44 (0)7989 524780 or firstname.lastname@example.org.
The Principles for Responsible Investment (PRI)
The Principles for Responsible Investment, convened by UNEP FI and the UN Global Compact, was established as a framework to help investors achieve better long-term investment returns and sustainable markets through better analysis of environmental, social and governance issues in investment process and the exercise of responsible ownership practices. The Principles themselves, a full list of signatories and more information can be found at www.unpri.org.
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For more from this organization:United Nations Global Compact