A group of influential investors has warned 78 listed companies that they are breaching pledges to a United Nations agreement on society and the environment by failing to publish progress reports.
The investors, led by Morley Fund Management in the UK, have also praised a smaller group of mostly European companies for “notable” performance under the UN Global Compact.
The compact commits companies to principles on human rights, labour standards, the environment and corruption, with the aim of improving the “social legitimacy” of businesses.
According to the UN database of compliance, 904 companies – the bulk of them from emerging markets – have failed to produce the updates required by the scheme.
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