CFA Institute Becomes First Organization in Charlottesville to Sign the UN Global Compact

CFA Institute, the global association of investment professionals, has become a signatory of the United Nations Global Compact, the world’s largest corporate sustainability initiative. The UN Global Compact is a voluntary initiative based on Chief Executive Officer commitments to implement universal sustainability principles in the areas of human rights, labor, anti-corruption, and the environment. Additionally, the Global Compact engages businesses in support of broader UN goals, such as the Sustainable Development Goals (SDGs). More than 8,000 business participants, including 188 banks and 587 other organizations from the financial services sector, have signed the Global Compact

“We are proud to join the thousands of organizations that recognize the unique ability of the UN Global Compact to have a meaningful impact on human rights, labor, environmental and anti-corruption issues everywhere they exist,” said Paul Smith, CFA, president and CEO of CFA Institute. “CFA Institute has long held that responsible business practices can bring about powerful, positive change in financial markets and society. We look forward to adding our voice and reach to reinforcing the need to adhere to the highest levels of responsibility.”

Participants in the UN Global Compact commit to uphold fundamental responsibilities to people and planet as defined by the following Ten Principles:

Human Rights

Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and

Principle 2: make sure that they are not complicit in human rights abuses.

Labor

Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;

Principle 4: the elimination of all forms of forced and compulsory labor;

Principle 5: the effective abolition of child labor; and

Principle 6: the elimination of discrimination in respect of employment and occupation.

Environment

Principle 7: Businesses should support a precautionary approach to environmental challenges;

Principle 8: undertake initiatives to promote greater environmental responsibility; and

Principle 9: encourage the development and diffusion of environmentally friendly technologies.

Anti-Corruption

Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.

According to the UN Global Compact, “Corporate and organizational success requires stable economies and healthy, educated workers, among other factors. And sustainable companies experience increased brand trust and investor support.”