trust backs SRI standardNovember 2002
A think-tank is to back calls for the creation of a Europe-wide accreditation standard for socially responsible investment funds.
The London-based Federal Trust for Education and Research supports the idea in a draft document on SRI and corporate social responsibility in Europe.
The trust, which is chaired by Sir Brian Unwin, former president of the European Investment Bank, says the European Union should develop the standard along the lines of a 14-point code launched earlier this year by the Dutch Association of Investors for Sustainable Development (EP4, issue 2). The Dutch standard, among other things, asks investment funds to provide their clients with detailed information on how they assess companies.
The trust’s proposal was discussed at a conference in Brussels last month, and is now out for consultation.
It says there is a need for indices in all European countries to rate company performance on social and environmental issues. Business in the Community’s CSR index for UK companies could be the model, it suggests.
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