FRANCE - Le Fonds de Reserve pour les Retraites (FRR) has signed up to the Emerging Markets Disclosure Project (EMDP) to help promote transparency in developing markets.
The project is supported by the World Bank and the United Nations and has a membership of 50 international investors to date, representing assets under management valued at more than $1bn.
Under the initiative, businesses in emerging countries are being asked to disclose information on their triple-bottom line performances using the framework provided by the Global Reporting Initiative (GRI).
Groups of local and international investors have been formed to conduct a dialogue with the large corporations in various markets.
"In markets around the world that are still lacking transparency, it is very important to encourage businesses to disclose more extra-financial information than they currently do, so as to facilitate their financing by providing investors with a better way of assessing the threats and opportunities they present over the long term," the FRR said.
"Convinced of the importance of full disclosure in the area of sustainability, the FRR hopes that asset management firms with which it works will support this initiative and play an active role in its implementation."
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