GLOBAL - Signatories to the UN's Principles for Responsible Investment (UNPRI), including pension funds APG, CalPERS, the New Zealand Superannuation Fund and the CPPIB have written to 130 companies to push for better reporting of corporate responsibility.
Steve Waygood, head of research and engagement with Aviva Investors, said the number of institutional investors who believed extra-financial concerns such as ESG had a direct effect on the long-term performance of a company had reached "a critical mass".
He said: "As investors, we want to protect the integrity of the UN Global Compact, and ensure companies use their Global Compact participation as a framework to speak up about their daily business practices on environmental, social and corporate governance issues.
"The UN Global Compact should not merely be a statement of good intentions".
The 38 investors, which represent some $3trn of assets, have written to the top 25 companies in the UN Global Compact to praise performance, while writing to 100 more to urge better COP reports.
Companies targeted include luxury-goods firm Louis Vuitton Moët Hennessy (LVMH), clothing store GAP Inc and Severn Trent water, while Air France and Starbucks were praised for their performance.
Watgood added: "Companies that produce a 'good' Communication on Progress send a powerful message to a valuable audience of institutional investors.
"Those who have failed to submit a report will trigger alarm bells among investors who want real details about a company's business practices on ESG issues."
Here they are - the winners of the UK Pensions Awards 2019...
Sir Philip Green's restructuring proposals for his retail giant Arcadia will not "adequately protect" its pension schemes' members, The Pensions Regulator (TPR) has said.
The Marks and Spencer Pension Scheme has completed buy-in deals worth £1.4bn with two insurers, mirroring similar transactions last year.