UNPRI & Global Compact

Checked on 1/06/2020

UNPRI & Global Compact

United Nations Principles for Responsible Investing

Philips Pensioenfonds subscribes to the United Nations Principles for Responsible Investments (UNPRI), to underline the importance of incorporating environmental, social and governance (ESG) issues into the pension fund’s investment policy. The UNPRI network is made up of a rapidly growing group of investors from around the world that all endeavour to encourage incorporation of ESG issues into the investment process.

Core principles

The six core principles of the UNPRI are:

  1. We will incorporate ESG.
  2. We will be active owners.
  3. We will seek appropriate disclosure on ESG issues by the entities in which we invest.
  4. We will promote acceptance and implementation of the UNPRI within the investment industry.
  5. We will work together to enhance our effectiveness in implementing the Principles.
  6. We will report on our progress towards implementing the Principles.

Visit www.unpri.org to learn more.

Global Compact

A UN-supported initiative, Global Compact urges companies to act in compliance with a series of ten principles for human rights, labour, the environment and anti-corruption. The principles are derived from the Universal Declaration of Human Rights, internationally recognised declarations (for example of the International Labour Organisation) and United Nations conventions.

The ten principles:

  • Principle 1:
    businesses should support and respect the protection of internationally proclaimed human rights; and
  • Principle 2:
    make sure that they are not complicit in human rights abuses
  • Principle 3:
    businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining
  • Principle 4:
    the elimination of all forms of forced and compulsory labour
  • Principle 5:
    the effective abolition of child labour; and
  • Principle 6:
    the elimination of discrimination in respect of employment and occupation
  • Principle 7:
    businesses should support a precautionary approach to environmental challenges
  • Principle 8:
    undertake initiatives to promote greater environmental responsibility; and
  • Principle 9:
    encourage the development and diffusion of environmentally friendly technologies
  • Principle 10:
    businesses should work against corruption in all its forms, including extortion and bribery

Visit www.unglobalcompact.org to learn more.