Analysts at Socially Responsible Investment Firms Urge Stronger Corporate Reporting

Analysts at Socially Responsible Investment Firms Urge Stronger Corporate Reporting

In the wake of years of corporate scandals, an unprecedented coalition of analysts at 17 socially responsible investment firms representing over $147 billion in assets is urging traded companies around the world to meet a higher standard of reporting on corporate governance, environmental, labor and other key issues.

In a joint statement, the analysts recommend that companies start reporting annually on their key social and environmental policies, practices and performance. For the first time, the coalition of socially responsible investment analysts is sending a clear signal that companies should base their reporting on the Global Reporting Initiative's (GRI) Sustainability Reporting Guidelines.

Trillium Asset Management Senior Social Research Analyst Steve Lippman said: "Companies have been asking us for guidance on how to meet the skyrocketing demands for information. At the same time, a growing set of investors is relying on data on companies' social and environmental performance to make investment decisions. With this statement, we recommend ways that companies can increase the credibility, comparability, and utility of their reporting."

Intel Corporation Director of Corporate Responsibility Dave Stangis said: "I have been engaging the social investment and research community for several years. These groups own Intel shares or create indices that incorporate Intel stock. They are a key stakeholder group and I value their input. Our stakeholders look to us to disclose key environmental and social data so they can compare and judge our performance. It makes clear business sense for Intel to meet that need."

The signatories to the joint statement are: Boston Common Asset Management, LLC, Calvert Group, Christian Brothers Investment Services, Citizens Advisers Inc., Domini Social Investments LLC, Dreyfus Premier Third Century Fund, Inc. / Dreyfus Socially Responsible Growth Fund, Inc., Ethical Funds, Green Century Funds, ISIS Asset Management, plc, Mennonite Mutual Aid, Neuberger Berman Socially Responsive Investing, Real Assets, Trillium Asset Management Corporation, Pax World Funds, The Pension Boards -- UCC / United Church Foundation, Progressive Asset Management, Inc., and Walden Asset Management, a division of Boston Trust & Investment Management.

The joint analyst statement is a project of the Social Investment Forum's International Working Group (IWG) and the Social Investment Research Analysts Network (SIRAN).

For the full text of the analyst statement and a list of other organizations supporting it, go to SocialInvest.org.
Topics: