A new set of guidelines for UK pension fund trustees and fund managers has been launched offering advice on how to improve the impact of pension fund investment on some of the world's poorest countries.
‘Just Pensions - Socially Responsible Investment and International Development’ aims to show how to design and implement a socially responsible investment (SRI) policy through “positive engagement” between pension funds and companies.
Just Pensions project co-ordinator Duncan Green said: “SRI is a new and rapidly expanding field and is crying out for clear guidance on best practice in areas such as labour standards, human rights and corruption.”
The guidelines - which have been endorsed by the UK's National Association of Pension Funds (NAPF) - provide sample questions for trustees and fund managers and cover the legal implications of SRI, the business case for social responsibility, and other issues around labour standards and human rights.
The document forms part of a two year project - funded by the National Lottery Community Fund and managed by War on Want and Traidcraft Exchange - and has been advised by investment professionals and non-government organisations.
*The NAPF recently issued its own set of SRI guidelines, 'Engaging for success - Engagement guidance on socially responsible investment for investors and companies’ (see article May 29, 2001)
By Madhu Kalia
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