UK - The Communication Workers' Union is urging the BT and Consignia pension schemes to increase their commitment to socially responsible investment.
CWU officials – who are seeking improvements to working conditions in third world countries – have asked members to put pressure on their pension fund trustees to do more on the issue.
CWU general secretary Billy Hayes said: ”Trade unions need to be alert to how pensions are invested. On the one hand they can be campaigning for progressive policies on international trade and politics, while the money that is being contributed to pension funds is used to support actions which are unfair and repressive.”
This initiative is supported by charities that work to combat poverty in countries with developing economies.
War on Want campaigns director Rob Cartridge said: “Harnessing the power of these huge pension funds can make a real difference to workers in the developing world.”
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Schneider Electric has appointed Aon to provide full fiduciary management services for over £400m of assets held in the Schneider Pension Plan.
Pension Insurance Corporation (PIC) has invested £40m in debt issued by Scottish Borders-based Eildon Housing Association.