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Article

30 Oct 2005

Author:
Bill Varner, Bloomberg

UN Ignores Own Standards in Investing $29 Billion Pension Fund

The United Nations, which urges the world's companies to follow anti-pollution, labor rights and other standards of corporate responsibility, often ignores those aims when investing its own $29 billion employee pension fund. A copy of the world body's investment portfolio includes at least a dozen companies that don't adhere to principles in the UN's ``Global Compact'' for corporate behavior, according to rights groups and pension managers who reviewed the list of almost 400 companies. [refers to Rio Tinto, Wal-Mart, ExxonMobil, Anglo American, Fortis, Archer Daniels Midland, Newmont, Phelps Dodge]