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Article

18 Mar 2003

Author:
William Baue, SocialFunds.com

Oekom Applauds Insurers Employing SRI but Chides Rest of Sector's Non-Transparency

Lack of transparency prevented the German corporate research firm from conducting corporate responsibility ratings on the majority of global insurance companies. - Few insurance companies are making the effort to disclose their social and environmental performance...Norway-based Storebrand, which scored the highest overall rating of "B" on a scale from "A+" to "D-", received kudos for employing negative as well as best-in-class screening in substantial portions of its investment portfolio...The report highlighted the shareowner advocacy practices of UK-based Aviva, which placed second in the overall rating with a "B", and Australia-based AMP, which placed twelfth with a "C". "As an example, Morley Fund Management [Aviva] is committed to vote against FTSE 100 companies which do not publish environmental reports"