October 28, 2008
Investors Urge CEOs to Join UN Global Compact
A group of global investors announced a collaborative effort to urge CEOs of about 9,000 companies (PDF) to commit to the United Nations Global Compact and its ten principles, CSRwire reports.
The 52 investors (PDF), managing about $4.4 trillion in assets, are 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. They include investors based in the US, Europe, Australia and emerging markets.
In June, the UN Global Compact removed 630 companies (PDF) from its list of participants for failure to communicate progress (In the past, there was a perception by some that companies around the world could join the group without taking any practical steps to change policies.).
CEOs signed numerous environmental pledges at last year’s Global Compact Leaders Summit.
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