Proposing a UN Responsible Investment Initiative
At a press conference in London, the Executive Director of the United Nations Environment Programme announced plans to create a set of neutral, global, UN-endorsed principles - supported by action plans - to define best practise responsible investment by institutional investors.
It marked the first time the United Nations had directly engaged with the world's institutional investors and was seen as an important step towards fulfilling the Millennium Development Goals and commitments of the World Summit for Sustainable Development. With a budget of US$320,000, a task force of forward-looking individuals, able to take a leadership role "at odds with sector norms, if necessary" was to be convened to develop the principles.
