November 23, 2006
A survey of investor has found their key concerns include workers conditions, involvement in arms trade and environmental pollution.
Extract from Environmental Finance:
London, 16 November: Ethical fund managers should favour companies that maintain high standards of working conditions in their supply chains, according to a survey of investors released this week.
UK investment management company Standard Life polled close to 1,200 of its ethical investors, asking them to rank the issues of most importance to them.
Workers’ conditions topped the rankings, which also revealed that the environment was a major concern among investors. The provision of pollution control products or services, and the development and use renewable energy, were placed second and third in terms of importance.
Standard Life Investments manages approximately £130 billion ($245 billion) of assets, £425 million of which is ethically invested. It uses the survey to adapt its investment policy in line with investors’ views on issues such as community involvement, employment policies, corporate governance, alcohol, gambling and animal testing.
The investors said fund managers should avoid investing in companies and countries with poor human rights records, companies involved in the arms trade, and those that are responsible for clearing tropical forests.
August 11, 2006
It is excellent to see guidelines being released that can assist oil and gas companies manage difficult human rights issues. Although, such companies should also consider the value of obtaining some specialist expertise to help them customise the Toolkit, and provide practical advice that is related to the particular experiences and situations that they have already been faced with.
The Training Toolkit aims to raise awareness of human rights issues in the oil and gas industry. It provides managers with a template that can be used and adapted to conform to a company’s policy or position on human rights and applicable domestic laws and regulations. This Toolkit is not intended to be an in-depth instruction on how to conduct human rights training.
Company representatives should review the trainer’s manual prior to using the Training Toolkit to customise it to the needs of their particular circumstances. The trainer’s manual provides information on how to finalise the materials for a company’s specific purposes.
The toolkit examines the history and background of human rights and defines key risk areas for the oil and gas industry. The largest section of the toolkit deals with the engagement with stakeholders, including
- Employment Terms
- Supply Chain Issues
- Mitigating Community Impact
- Indigenous People
- Land Rights and Resettlement
- Local Content
- Relationships with Governments
The toolkit also presents dilemmas and scenarios that may arise form these engagements and presents a decision-making tool.
The Toolkit consists of four sections:
- a presentation with the key messages for use in a training session
- a workbook to be used in conjunction with the presentation
- a trainer’s manual
- a resource guide.