United Nations Principles for Responsible Investment - What are they?
November 21st 2007 21:46
The United Nations Principles for Responsible Investment are a set of 6 basic principles of investment in the areas of human rights, labour, the environment and anti-corruption.
The idea is that signatories by adhering to these principles will drectly influence companies that they invest in and hence not condone corrupt and unethical behaviour, as we know money feeds corrupt and unethical behaviour. The UNPRI complements the UN global compact which is a set of 10 principles companies pedge to adhere to in order to uphold standards in the same areas of Human rights, labour, the Enovironment and anti-corruption.
The Principles are as follows:
The global Compact that the UNPRI complements has the following 10 Principles
Human Rights
Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
Principle 2: make sure that they are not complicit in human rights abuses.
Labour Standards
Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Principle 4: the elimination of all forms of forced and compulsory labour;
Principle 5: the effective abolition of child labour; and
Principle 6: the elimination of discrimination in respect of employment and occupation.
Environment
Principle 7: Businesses should support a precautionary approach to environmental challenges;
Principle 8: undertake initiatives to promote greater environmental responsibility; and
Principle 9: encourage the development and diffusion of environmentally friendly technologies
Anti-Corruption
Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
Hopefully one day these standars will be the benchmark for all businesses n the world.
The more aware we are of these as consumers, the more businesses will have to embrace these principles.
cheers
Louie
The idea is that signatories by adhering to these principles will drectly influence companies that they invest in and hence not condone corrupt and unethical behaviour, as we know money feeds corrupt and unethical behaviour. The UNPRI complements the UN global compact which is a set of 10 principles companies pedge to adhere to in order to uphold standards in the same areas of Human rights, labour, the Enovironment and anti-corruption.
The Principles are as follows:
As Insittutional Investors we have a duty to act in the best long term interests of our beneficiaries. In this fiduciary duty we beleive that Environmental, Social and Corporate Governance (ESG) issues can effect the performance of Investment portfolio's.....We also recognise that applying these principles may better align investors with the broader objectives of society. Therfore where consistent withour fiduciary duty we commit to the following
1) We will incorporate ESG issues into investment analysis and decision making process
2) We will be active owners and incorporate ESG on issues into our ownership policies and practices.
3) We will seek appropriate disclosure on ESG issues from entities in which we invest.
4) We will promote acceptance and implmentation of the principles within the investment community
5) We will work together to enhance our effectiveness in implementing the priciples.
6) We will each report on our activities and progress towards implementing the Principles
1) We will incorporate ESG issues into investment analysis and decision making process
2) We will be active owners and incorporate ESG on issues into our ownership policies and practices.
3) We will seek appropriate disclosure on ESG issues from entities in which we invest.
4) We will promote acceptance and implmentation of the principles within the investment community
5) We will work together to enhance our effectiveness in implementing the priciples.
6) We will each report on our activities and progress towards implementing the Principles
The global Compact that the UNPRI complements has the following 10 Principles
Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
Principle 2: make sure that they are not complicit in human rights abuses.
Labour Standards
Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Principle 4: the elimination of all forms of forced and compulsory labour;
Principle 5: the effective abolition of child labour; and
Principle 6: the elimination of discrimination in respect of employment and occupation.
Environment
Principle 7: Businesses should support a precautionary approach to environmental challenges;
Principle 8: undertake initiatives to promote greater environmental responsibility; and
Principle 9: encourage the development and diffusion of environmentally friendly technologies
Anti-Corruption
Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
Hopefully one day these standars will be the benchmark for all businesses n the world.
The more aware we are of these as consumers, the more businesses will have to embrace these principles.
cheers
Louie
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Comment by Mr Nice Guy
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I fear that (business being business) and the unscrupulous being - well . . . we could be a long time waiting.
People power and not govt will be the only way forward - because as we all know - the corrupt look after themselves first.
Sorry to be so cynical.
With you all the way on this one.
MNG
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I'd love to see all of that reversed, talk is so cheap, but do keep trying (not your talk, dear, theirs)
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