Swiss Re signs the United Nations' Principles for Responsible Investment
04 July 2007, Zurich
Today Swiss Re has signed the United Nations' Principles for Responsible Investment (UN PRI). The voluntary program encourages best practice in environmental, social and corporate governance issues in investments.
Swiss Re has a long track record in sustainability and corporate governance. By signing the UN PRI, Swiss Re expands its commitment to sustainability considerations in investment decision making, as already stated in its Code of Conduct.
Benjamin Meuli, Swiss Re's Chief Investment Officer said: "Signing the UN PRI is a natural development of our growing conviction that environmental, social and governance related considerations should provide material input to our investment decisions. It therefore supports Swiss Re's commitment to sustainable value creation."
The six underlying principles of the UN PRI, to which signatories agree, state:
- Incorporate ESG issues into investment analysis and decision-making processes.
- Be active owners and incorporate ESG issues into our ownership policies and practices.
- Seek appropriate disclosure on ESG issues by the entities in which we invest.
- Promote acceptance and implementation of the Principles within the investment industry.
- Work together to enhance our effectiveness in implementing the Principles.
- Report each on activities and progress towards implementing the Principles.
Notes to editors
Swiss Re is the world's leading and most diversified global reinsurer. The company operates through offices in more than 25 countries. Founded in Zurich, Switzerland, in 1863, Swiss Re offers financial services products that enable risk-taking essential to enterprise and progress. The company's traditional reinsurance products and related services for property and casualty, as well as the life and health business are complemented by insurance-based corporate finance solutions and supplementary services for comprehensive risk management. Swiss Re is rated "AA-" by Standard, Poor's, "Aa2" by Moody's and "A+" by A.M. Best.
About UN PRI
In early 2005 the United Nations Secretary-General invited a group of the world's largest institutional investors to join a process to develop the Principles for Responsible Investment (PRI). Individuals representing 20 institutional investors from 12 countries agreed to participate in the Investor Group. The Group accepted ownership of the Principles, and had the freedom to develop them as they saw fit.
The process was coordinated by the United Nations Environment Programme Finance Initiative and the UN Global Compact. The PRI reflect the core values of the group of large investors whose investment horizon is generally long, and whose portfolios are often highly diversified. However, the Principles are open to all institutional investors, investment managers and professional service partners to support.
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