Ethical Performance
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Asia-specific CSR guidelines are published

May 2006

New advice for investors on what they should be requiring from companies on CSR issues has been published by the Association of Sustainable and Responsible Investment in Asia (ASrIA).

A collection of guidance reports, funded by the International Finance Corporation (IFC), the World Bank's private-sector arm, cover the sectors of automobiles, banking, metals and mining, oil, gas and petrochemicals, power, pulp, paper and timber, supply chain and technology.

Rachel Kyte, the IFC's environmental and social development director, said: 'Investors need a framework for assessing the growing and complex environmental, social and governance issues that face companies in Asia today. This report begins the process of creating such a framework.'

ASrIA observed that studies of environmental, social and governance risks are hampered by limited disclosure, that government ownership and control also play a part, and that globalization and market development are showing up the trends in China and India.

It said environmental issues appear to dominate Asian investment, that medium-term incentives for change are emerging individually rather than systematically, that better governance is a key factor, and that regulatory change is being driven to a large extent by rising public expectations.

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