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(San Francisco, December 15, 2003) -
Today UN Observer.org announced that it was launching a campaign
to promote the use of socially and environmentally responsible
investing by the $21 billion UN pension fund.
In a letter addressed to UN Secretary-General Kofi Annan and to Bernard Cocheme, CEO of the United Nations Joint Staff Pension Fund, UN Observer.org Executive Director Bruno Schneider urged the fund to begin the process by which such socially and environmentally responsible investing practices will be implemented.
“This is a unique opportunity for the UN pension fund to display leadership by example,” said Schneider. “Secretary-General Kofi Annan has been promoting the Global Compact a set of 9 human rights, environmental and labor principles to the private sector for over 4 years. It is now time for the UN pension fund to apply these same principles to itself.”
With $21 billion in assets as of 2003, UNJSPF ranks as one of the largest in the world, with total assets larger than the GNP of each of the smallest 83 countries in the world.
UNJSPF is a fund established by the General Assembly of the United Nations to provide retirement, death, disability and related benefits for the staff of the United Nations and the other organizations admitted to membership. It is currently serving over 80,000 participants from over 190 countries, and paid out over $1.2 billion in 2003.
UN Observer.org is a Non Governmental Organization inspired
by the vision of a strong and effective UN system guided by
human rights and environmental principles.
As an organization driven by the belief that leadership is best
achieved by example, UN Observer.org's mission is to encourage
and assist the United Nations family of organizations to hold
itself to the same human rights and environmental principles
that it promotes.
UN Observer.org publishes newsletters and issue-specific reports, provides an on-line electronic forum, organizes advocacy campaigns and maintains a resource and documentation center available to the public on issues relating to the UN and human rights.
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