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Opinion
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Monday, 30 April 2007 |
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Corporations embrace CSR, at least in part, out of a sense of self-interest and public relations. Do the PR aspects of CSR matter, if corporations alter their behavior for the better? I personally generally take the approach that the "perfect can be the enemy of the good." However, there are certainly reasons to disagree: NGO co-option, corporate speech dominating the debate about what responsibility means, letting local and foreign governments off the hook for failing to monitor or legislate human or environmental protection to name a few. While the buzz around CSR is intense right now, there is room for more discussion and there still industries and regions, which can benefit from even considering environmental, human rights, and other social issues. The key challenge is to turn CSR into corporate actions and corporate obligations.
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Financial News
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Monday, 30 April 2007 |
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Quick CO: The Principles for Responsible Investment (PRI) were develped by
UNEP Finance Initiative and the UN Global Compact to promote
responsibility and good corporate governance.
Does the shift of
terminology from Socially Responsible Investment to Principles for
Responsible Investment matter? Vague principles are common in voluntary standards, but clearer language to create enforceable standards would be beneficial.
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Principles for Responsible Investment hit $8 trillion mark on first year anniversary
April 29, 2007
(CSRwire) The Principles for Responsible Investment (PRI) initiative, convened by the
United Nations Environment Program Finance Initiative and the UN Global
Compact, announces this week on its first anniversary that it has achieved
over 180 leading institutional signatories from all round the globe,
representing in excess of US$ 8 trillion in assets under management. ...
One of the most exciting initiatives is the PRI Engagement Clearinghouse,
which is the first global collaborative forum for investors to work
together and share knowledge and resources to take action on ESG issues.
This has already proved an effective method of raising awareness and
gaining support from other signatories for investor activities,
particularly internationally, focusing on issues such as climate change,
executive remuneration, transparency, investment in sensitive regions, and
other key challenges.
The PRI initiative was established as a framework to help investors
achieve better long-term investment returns and sustainable markets
through better analysis of ESG issues in investment process and the
exercise of responsible ownership practices.
A full list of signatories to the Principles for Responsible Investment is
available from http://www.unpri.org/signatories/
The Principles themselves can be found here:
http://www.unpri.org/principles/
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