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Affiliations
Insight plays an active part in debates around corporate responsibility, corporate governance, sustainability and responsible investment. For example, we have played a leading role in developing the UN Principles for Responsible Investment and the IIGCC Investor Statement on Climate Change, in creating Eurosif – the European Social Investment Forum, and in advising important initiatives such as Amnesty International’s UK Business Group and The Climate Group.
Initiatives to promote responsible investment
Insight is an active member of the following initiatives:
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Association of British Insurers (ABI)
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The ABI (Association of British Insurers) represents the collective interests of the UK’s insurance industry. The Association speaks out on issues of common interest; helps to inform and participate in debates on public policy issues; and also acts as an advocate for high standards of customer service in the insurance industry. The Association has around four hundred member companies. Between them, they provide 94% of domestic insurance services sold in the UK, and account for almost 20% of investments in the London stock market.
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European Social Investment Forum (Eurosif)
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Eurosif (the European Social Investment Forum) is a pan-European group whose mission is to address sustainability through the financial markets. Current member affiliates of Eurosif include pension funds, financial service providers, academic institutes, research associations and NGO's. |
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International Corporate Governance Network (ICGN)
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The International Corporate Governance Network (ICGN) is a not-for-profit organisation that provides an investor-led network for the exchange of views and information about corporate governance issues internationally, examines corporate governance principles and practices, develops and encourages adherence to corporate governance standards and guidelines, and generally promotes good corporate governance. |
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Institutional Investors Group on Climate Change (IIGCC)
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Insight has been a member of the Institutional Investors Group on Climate Change (IIGCC) since 2003 and sits on its Steering Committee. IIGCC is a forum for collaboration between pension funds and other institutional investors on issues related to climate change. IIGCC seeks to promote better understanding of the implications of climate change among its members and other institutional investors, to encourage investors to manage the investment implications of climate change, and to advocate public policy and market solutions that are both effective responses to climate change and consistent with long-term investment objectives.
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United Nations Environment Programme: Finance Initiative (UNEP FI)
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Insight has been a member of UNEP FI since October 2004. UNEP FI is a global partnership between UNEP and the financial sector. Over one hundred and sixty institutions including banks, insurers and fund managers, work with UNEP to understand the impacts of environmental and social considerations on financial performance. Members of the Investor Responsibility team sit on the Water and Finance Advisory Group, the Biodiversity/Ecosystems Work Stream and the Asset Management working groups. |
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United Nations Principles for Responsible Investment (UN PRI)
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Insight is a founding signatory and sponsor of the United Nations Principles for Responsible Investment. The PRI is a set of six principles to which investment managers and asset owners can sign up to demonstrate their commitment to responsible investment. They provide a range of possible actions for incorporating environmental, social and governance issues into mainstream /investment decision-making and ownership practices.
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UK Social Investment Forum (UKSIF)
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Insight has been a member of the UK Social Investment Forum (UKSIF) since 2002. UKSIF is the UK’s membership network for Socially Responsible Investment (SRI). UKSIF’s primary purpose is to promote and encourage the development and positive impact of SRI among UK-based investors. UKSIF has more than two hundred members and affiliates including retail and institutional fund managers, investment consultants, pension funds, investment banks, financial advisers, SRI research providers, trade unions, banks and non-governmental organisations. |
Insight supports the following initiatives on specific environmental, social and governance issues:
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Carbon Disclosure Project (CDP)
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The Carbon Disclosure Project (CDP) provides a secretariat for the world's largest institutional investor collaborative initiative on the business implications of climate change. CDP coordinates institutional investors who collectively sign a single annual global request for disclosure of information on greenhouse gas emissions. In 2006, the letter was sent to over 2100 companies. |
| IIGCC Investor Statement on Climate Change |
The Institutional Investors Group on Climate Change (IIGCC) launched the Investor Statement on Climate Change in October 2006. Insight led the development of the statement within IIGCC. As of December 2006, 16 investment managers representing £850 billion under management have signed the statement.
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Investor Statement on Revenue Transparency
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In 2003 Insight played a leading role alongside other investors in developing the Investor Statement on Revenue Transparency. The Statement was designed to demonstrate that investors around the world are concerned about revenue transparency and to show their support for the Extractives Industry Transparency Initiative. On 16 May 2003, a group of ten investors, including Insight, representing £466 billion under management, issued the Statement, calling on extractive companies to be more transparent about the payments they make to governments. Investor support has grown substantially since then; over 70 investment managers (with £12.3 trillion of assets under management) now support the Statement. |
Members of the IR team hold positions on various trustee and advisory boards:
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Amnesty UK Business Group
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Rory Sullivan is a member of the Amnesty International UK Business Group. The Business Group encourages companies to be aware of the human rights impact of all aspects of their operations, to use their legitimate influence in support of human rights in all countries in which they operate, to give effect to the Universal Declaration of Human Rights, to include a specific commitment to human rights in their statements of business principles and codes of conduct, and to ensure the effective implementation of these commitments. |
| Global Reporting Initiative (GRI) |
Insight has been involved in the GRI process since 2002. GRI's vision is for reporting on economic, environmental, and social performance by all organisations is as routine and comparable as financial reporting. The GRI network accomplishes this vision by developing, continuously improving and building capacity around its Sustainability Reporting Guidelines. Rory Sullivan is a member of the Working Group that is developing a Sector Supplement for Energy Utilities, to support the main Sustainability Reporting Guidelines.
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| Institutional Investors Group on Climate Change (IIGCC) |
Rory Sullivan is a Steering Committee member of the Institutional Investors Group on Climate Change (IIGCC). IIGCC is a forum for collaboration between pension funds and other institutional investors on issues related to climate change. Rory has also played a leading role in the IIGCC’s public policy workstream. |
| Sedex Advisory Board |
Rachel Crossley is a member of the Advisory Board of Sedex - the Suppliers Ethical Data Exchange. Sedex is a secure, web-based system that companies use to input, manage and share data about labour standards at their production sites. The Sedex system has been designed to allow companies who are in an existing trading relationship to share this information, saving time and money lost in duplicated information. |
| The Climate Group |
Rachel Crossley has been a Trustee of The Climate Group since 2003. She also sits on the Advisory Board. The Climate Group is an independent, nonprofit organization dedicated to advancing business and government leadership on climate change. It promotes the development and sharing of expertise on how business and government can lead the way towards a low carbon economy whilst boosting profitability and competitiveness.
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Traidcraft's 'Buying into development' project
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Rachel Crossley sites on the Advisory Panel of this project run by Traidcraft Exchange. Traidcraft Exchange is a UK development charity specialising in making trade work for the poor. In collaboration with local partners the organisation works to create opportunities for poor people to harness the benefits of trade, helping them to develop sustainable livelihoods and offering them hope for a better future. The intention of this project is to improve the social impact of professional purchasers, by raising awareness amongst the profession of their current social impacts and how they, by improving their purchasing practices, can not only benefit suppliers and workers overseas but also the companies involved, through better supply chain management. |
| UNEP FI Asset Management Working Group |
Jennifer Kozak has represented Insight on the Asset Management Working Group (AMWG) of UNEP FI since 2004. The AMWG explores the association between environmental, social, and corporate governance considerations and investment decision making and publishes reports of its findings. It consists of 13 asset managers with combined mandates of $2 trillion.
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| UNEP FI Water and Finance Workstream |
Jennifer Kozak is representing Insight on the Water and Finance workstream of UNEP FI which was set up in January 2007. The workstream plans to construct a framework for financial institutions to identify and address areas of risk across different subsectors by developing a set of water-related risk management guidelines. This tool will help financial institutions to integrate water concerns into their investment and lending decisions. |
| UNEP FI Ecosystems and Biodiversity Workstream |
Rachel Crossley is representing Insight on the Ecosystems and Biodiversity workstream of UNEP FI which was set up in January 2007. The workstream will engage the financial services sector in identifying and addressing the risks arising from biodiversity loss and the degradation of ecosystems services, including those linked to regulatory frameworks, business operations and stakeholder concerns. |
| UNEP FI Human Rights Working Group |
Rory Sullivan is representing Insight on the Human Rights Working Group of UNEP FI which was set up in January 2007. The group will develop internationally applicable guidance to assist finance sector organisations to identify human rights risks in their project financing activities. |
| Xstrata |
In August 2004, Xstrata Copper was granted a term of up to six years to complete exploration and feasibility work at the Las Bambas copper project in Southern Peru. To assist in meeting its objective of executing the project in a manner that contributes significantly to sustainable development, Xstrata has established an Independent Advisory Group (IAG), comprising members with experience of community, social, environmental, ethical and economic issues encountered by companies working in developing countries, to provide external, independent advice and recommendations to Xstrata. Rory Sullivan is a member of the Advisory Group. |
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