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Financiers Convene in Zurich

(New York, 3 October 2006) - On 27-28 September more than 100 leading financiers and investment professionals gathered at the UN Global Compact's third annual Who Cares Wins conference, convened in Zurich, Switzerland, in partnership with the International Finance Corporation and the Swiss Department of Foreign Affairs.
 
The Global Compact launched the Who Cares Wins initiative in June 2004 with the aim of assisting the mainstream financial community with the integration of environmental, social and governance issues into investment analysis and management.  The initiative has been endorsed by the CEOs of more than 20 of the world's largest investment companies and played a role in this year's launch of the Principles for Responsible Investment -- today endorsed by asset owners and asset managers representing more than $5 trillion (see www.unpri.org)
 
The third annual conference focused on the interface between investment analysts and corporations, with a number of senior executives of major companies in attendance.
 
"It is evident that better communication is needed between companies and the mainstream financial markets around the tenets and benefits of corporate citizenship", said Gavin Power, head of financial-markets initiatives at the Global Compact.  "There is clearly an opportunity for companies to better explain how the implementation of their citizenship policies link to the value drivers of the business -- from the standpoint of both risks and opportunities.  At the same time, analysts and fund managers have a role to play in encouraging companies to adopt relevant policies and disclose results in ways that are meaningful".
 
At the conference a document was released describing the major developments that have occurred in this field during the past year. (See below)
 
A full report of the conference will be published within the next several months.
 
Click here to access agenda of conference.
Click here to access list of participants.
Click here to access chronology of achievements.
Click here to access remarks by Gavin Power.

For more information please contact
Gavin Power
Head of Financial Markets Initiative
powerg@un.org