Social awareness urged on companies

Charity specialist CCLA is among investment houses that have written to 103 signatories of a UN corporate responsibility agreement to emphasise the need for environmental and social awareness in business.

The UN Global Compact is a voluntary initiative to which companies can sign up to demonstrate their commitment to 10 principles on human rights, labour standards, the environment and corruption. As charities, CCLA's clients are particularly interested in socially responsible investments.

Of the 103 companies contacted by the investors, 30 do not report back to the UN Global Compact on how well they follow its principles, 48 have shown poor performance and 25 are being congratulated for their good reporting records.

CCLA is one of 20 investors encouraging adherence to the Compact. "Making sure companies adhere to it fits closely with our clients' interests," said Amanda Young, senior SRI analyst at CCLA. "Charities have to make sure their investment philosophies are aligned with their beliefs."

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