World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search


Annan Sounds Bell For Responsible Investment

Opening NY Stock Exchange, Annan Sounds Bell For Responsible Investment

New York, Apr 27 2006

Secretary-General Kofi Annan rang the opening bell at the New York Stock Exchange this morning, launching a United Nations programme to encourage institutional investors to weigh the environmental and social impact of their investments.

The "Principles for Responsible Investment," a clear framework for integrating those concerns into investment decisions, are an initiative of the UN Environment Programme (UNEP) and the UN Global Compact, which was launched by Mr. Annan to advance good corporate citizenship and responsible globalization, and to promote human rights and fight corruption.

"The Principles provide a framework for achieving better long-term investment returns, and more sustainable markets," Mr. Annan told the Wall Street audience, calling the UN and business "natural partners" for that reason.

"If implemented, they have tremendous potential to more closely align investment practices with the goals of the United Nations, thereby contributing to a more stable and inclusive global economy," he added.

At the Exchange, the Secretary-General was joined by the heads of a group of international funds who later signed the Principles and whose combined investment responsibilities, he said, totaled $2 trillion dollars.

"You have a wide range of constituents and are involved in many different activities," he told them. "But what unites you, at least here today, is that you are all now convinced that their fiduciary role gives you a responsibility to include environmental, social and governance criteria in your investment policy and decision making."

As evidence that the UN practices what it preaches, Mr. Annan announced that the UN Joint Staff Pension Fund, with nearly $30 billion in assets, also signed onto the Principles today.


© Scoop Media

World Headlines


Gordon Campbell: Zimbabwe - Meet The New Bosses

At 75, Mnangagwa is not exactly what you’d call a new broom. As many observers have pointed out, his track record has been one of unswerving dedication to Mugabe ever since the days of anti-colonial insurgency... To these guys, things had to change in Zimbabwe, so that things could remain the same. More>>


Gordon Campbell: Is This Guy The World’s Most Dangerous Thirtysomething?

Saudi Arabia has long been regarded as a pillar of stability in the Middle East, and is the essential caterer to the West’s fossil fuel needs. It is also the country that gave us Osama Bin Laden, al Qaeda, and 15 of the 19 terrorists who carried out the 9/11 attacks... More>>


Non-Binding Postal Vote: Australia Says Yes To Same Sex Marriage

Binoy Kampmark: Out of 150 federal seats, 133 registered affirmative totals in returning their response to the question “Should the law be changed to allow same-sex couples to marry?”. More>>


Bonn Climate Change Conference: Protecting Health In Small Island States

The vision is that, by 2030, all Small Island Developing States will have health systems that are resilient to climate change and countries around the world will be reducing their carbon emissions both to protect the most vulnerable from climate risks and deliver large health benefits in carbon-emitting countries. More>>


  • Pacific.Scoop
  • Cafe Pacific
  • PMC