Submitted by Interfaith Center on Corporate Responsibility (ICCR)
In accepting the award, Sr. Patricia said, "Every ICCR member played a major part in earning this honor. We are thrilled to know that our work as a committed coalition of faith-based investors is not only recognized by peers and colleagues, but by the international business community. This is a great moment for ICCR and we are honored."
Managing assets as people of faith
Investing for the "triple bottom line" refers to the desirability of socially responsible outcomes that benefit society, the economy, and the environment. "When corporations work toward sustainable growth," said Sr. Patricia, "they are managing their assets as stewards and not just as owners. As people of faith, ICCR members will continue to give witness to our belief that we are all responsible for how we manage our investments and our wealth."
Sr. Patricia said the TBLI Award, which is valued at approximately $5,000 U.S., will support publication of the third edition of the Principles for Global Corporate Responsibility: Bench Marks for Measuring Business Performance. First published by ICCR in 1995, the book promotes positive corporate social responsibility by stating comprehensive standards and expectations fundamental to a responsible companyÂ¹s actions. The 2003 edition contains new sections in light of developments in global labor issues, sustainable community development, the environment, and HIV/AIDS. "The additional information will make this publication especially relevant," said Sr. Patricia. "We hope more corporate leaders will take advantage of this unique resource to help define their own codes of conduct."
The TBLI Award is presented annually by the Triple Bottom Line Institute, Brussels, a consulting group that promotes socially responsible investing. Criteriai include "honesty, transparency, perseverance, commitment, and overall value to society," wording which appears on the award itself. TBLI leaders say the goal of the award is to inspire leaders in the socially responsible investment arena. Speakers at the conference included David Moran, President, Dow Jones Indexes; Barbara Krumsiek, President and Chief Executive Officer, Calvert Investments; Scott Noesen, Director of Sustainable Development, Dow Chemical Company; and Steve Lydenberg, Principal, Domini Social Investments, LLC.
ICCR is a coalition of 275 faith-based institutional investors, including denominations, religious orders, pension funds, healthcare corporations, foundations, publishing companies, and dioceses. Their combined portfolios are valued at over $110 billion. ICCR does not manage assets, but coordinates member activity in addressing issues of concern to them as investors through shareholder resolutions.
The other nominees were Transparency International and A2R. Transparency International, is an international non-governmental organization devoted to combating corruption and bringing civil society, business, and governments together in a global coalition. A2R focuses on investments in the sustainable sector in Brazil.
ICCR was founded in 1971 when members of the clergy questioned whether churches were profiting from the Vietnam war through their investments. Since then, ICCR has come to public prominence through its campaign against irresponsible infant formula marketing, which led in 1974 to the Nestlé boycott. ICCR members gained international attention once again for their efforts to end apartheid in South Africa. Today, in steadily growing numbers, individual and institutional investors collaborate with ICCR on corporate social and environmental responsibility campaigns. Current initiatives include the campaign to end predatory lending practices in the U.S., environmental clean-up of New YorkÂ¹s Hudson River, an end to global warming, and support for the global anti-sweatshop movement.
Editors: To schedule interviews with Sr. Patricia Wolf, RSM, Executive Director of ICCR, contact Norma Vavolizza or Jeff Fogliano at 212-687-0607 or write firstname.lastname@example.org. Visit www.iccr.org to learn more about the work of ICCR and its current shareholder resolutions.
The Interfaith Center on Corporate Responsibility is a 35-year-old international coalition of 275 faith-based institutional investors including denominations, religious communities, pension funds, healthcare corporations, foundations and dioceses with combined portfolios worth an estimated $110 billion. ICCR seeks to build a more just and sustainable society by integrating social values into corporate and investor decisions. ICCR is one of the foremost shareholder advocacy organizations in the world. More detailed information about shareholder resolutions is available from ICCR's Ethvest (sm), the comprehensive, on-line, subscription-based, ethical investor database, www.iccr.org.