Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
William Riley
Dec 01, 2022 10:45PM ET
go woke go broke
1
0
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
💎 Access the Market Tools Trusted by Thousands of Investors Get Started
Investors with $30 trln to push companies on human rights, social issues
Published Dec 01, 2022 03:09AM ET
Updated Dec 01, 2022 11:48AM ET
© Reuters. FILE PHOTO: The corporate logo of financial firm Morgan Stanley is pictured on the company's world headquarters in the Manhattan borough of New York City, January 20, 2015. REUTERS/Mike Segar/File Photo
By Simon Jessop
LONDON (Reuters) - More than 220 investors managing $30 trillion have signed up to a plan to push companies over social issues and human rights, with an initial focus on firms in the mining, metals and renewables sectors.
Dubbed 'Advance', the coalition is the largest such stewardship initiative, said the organiser, the U.N.-backed Principles for Responsible Investment (PRI), in a statement on Thursday.
Each member of the group has signed a public statement "acknowledging the urgency and systemic nature of human rights issues" and the need to meet their own responsibilities under international standards, it added.
"From tackling global inequalities to preventing damage to the environment which can impact the health of people for generations, we hope Advance will drive positive outcomes for workers, communities, and society at large," said PRI Chief Executive David Atkin.
Of those to sign up, 120 will take active roles leading or supporting engagement with an initial 40 companies, the PRI said. Unusually for such coalitions, details on which investor is speaking to which company will be transparent.
Among them, British firm Schroders (LON:SDR) and U.S. investor Morgan Stanley (NYSE:MS) Investment Management will engage with Anglo American (LON:AAL); while Nomura Asset Management and Man Group will speak with Nippon Steel.
Further engagement with companies in other sectors, as well as policymakers, will take place across the next five years, the PRI said, adding that it would also sync up with other investor initiatives on the theme to avoid duplication of efforts.
Advance is a "highly effective means of mobilizing investors to encourage corporations to respect human rights and collaboratively work toward addressing social issues", said Nomura AM's Chief Investment Officer for Equities, Yuichi Murao.
Related Articles
Comments (1)
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.