UN Global Compact
UN Global Compact was launched in 2000 by the previous UN Secretary-General, Kofi Annan. The initiative was founded to enable businesses to be a part of the solution for a more sustainable and inclusive global economy by promoting globally responsible business practices. More than 7000 companies from over 120 countries participate.
As a signatory for the Global Compact, Swedfund undertakes to promote and integrate the Ten Principles:
- • Respect international human rights.
- • Make sure that the company is not complicit in human rights abuses.
- • Uphold the freedom of association and the recognition of the right to collective bargaining.
- • Eliminate of all forms of forced and compulsory labor.
- • Abolish child labor.
- • Eliminate discrimination in respect of employment and occupation.
- • Support a precautionary approach to environmental challenges.
- • Undertake initiatives to promote greater environmental responsibility.
- • Encourage the development and diffusion of environmentally friendly technologies.
- • Work against corruption in all its forms, including extortion and bribery.
As part of this undertaking, Swedfund is required to submit an annual communication detailing its progress in the implementation of these principles.
UN PRI (United Nations Principles for Responsible Investment) was launched in 2006 as an open global initiative for institutional investors to adopt responsible business practices regarding ESG (environmental, social, governance) issues.
In addition to promoting the awareness of ESG issues, UN PRI also facilitates an exchange of information regarding ESG issues via a collaborative forum of responsible investors around the world.
By joining the UN PRI initiative, Swedfund makes a commitment to adhere to its six Principles in our business activity and to file an annual report detailing this work. Further, we can encourage the entities in which we invest to improve their own performance in these areas.
The six Principles are:
- • We will incorporate ESG issues into investment analysis and decision-making processes.
- • We will be active owners and incorporate ESG issues into our ownership policies and practices.
- • We will seek appropriate disclosure on ESG issues by the entities in which we invest.
- • We will promote acceptance and implementation of the Principles within the investment industry.
- • We will work together to enhance our effectiveness in implementing the Principles.
- • We will each report on our activities and progress towards implementing the Principles.
Read more about UN PRI and the six Principles at UN PRI’s website and in this brocshure An introduction to the Principles for Responsible Investment.