Principles for Responsible Investment hit $8 trillion
Filed in archive Ethics by leon on May 1, 2007

With money pouring into these funds, this movement is expected to get bigger and more powerful.
In July, 2000, the United Nations launched the UN Global Compact which aims to encourage responsible business practices worldwide. The program developed principles for responsible investment and now has more than 3800 participants, including close to 3000 businesses in 100 countries.
Evidence that the movement is growing comes again with the announcement that the Principles for Responsible Investment (PRI) initiative, convened by the UN Environment Program Finance Initiative and the UN Global Compact now has over 180 institutions on its books, representing more than $8 trillion of assets under management
. When it was launched a year ago at the New York Stock Exchange, there were only 20 signatories representing $2 trillion of assets under management, signifying extraordinary growth.You can check some of the signatories on the PRI site. Or read this report on how pension funds are bringing issues like climate change and human rights to the boardroom table.
At this stage, this looks like a real trend and not a fad. The money coming into the funds and institutions ensures it will continue. Watch this space!
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Mr Wong
