The CIBC Centre for Corporate Governance and Risk Management at Simon Fraser University’s Beedie School of Business in partnership with the Shareholder Association for Research and Education (SHARE) hosted a meeting on February 28 welcoming delegates from the United Nation’s Principles for Responsible Investing (PRI) committee. On the agenda was the role of responsible investing in ensuring risk management and building healthy, sustainable capital markets.
Daniel Shapiro, Dean of the Beedie School of Business, introduced keynote speaker Dr. Wolfgang Engshuber, chair of the UN’s PRI committee. In his opening remarks, Shapiro said that the Beedie School of Business was proud to have committed itself to upholding many of the same values that define the PRI as a signatory to the Principles of Management Education (PRME). Both initiatives adhere closely to the UN Global Compact on long-term ethical sustainability.
Founded in April 2006, as a vision of former UN secretary Kofi Annan, the number of signatories to the PRI has grown from less than 200 to over 1500, managing combined global assets of 35 trillion US dollars. Annan’s goal was to minimise global instability by encouraging financial organizations into thinking long term about their risk management strategies in addition to addressing environmental, social and governance (ESG) issues.
Reflecting on the time elapsed since the creation of PRI, Engshuber remarked that while preparing for this auspicious meeting he had read a paper on fiduciary responsibility from the SHARE website. Though well written, he was puzzled; why had certain key sources not been referenced? His question was answered on the front page – “The document had been written in 2005 and the problems are already addressed. Now there isn’t a conflict; fiduciary responsibility is an actual responsibility,” said Engshuber. Keep reading…
Tags: Beedie School of Business, capital markets, CIBC Centre for Corporate Governance and Risk Management, Daniel Shapiro, Kofi Annan, Michael Parent, NEI Investments, PRI, Principles of Management Education, responsible investing, risk management, Robert Adamson, SHARE, Shareholder Association for Research and Education, United Nation’s Principles for Responsible Investing, Vancity, Wolfgang Engshuber