Charters and Initiatives Glossary

Organisations, Initiatives and Charters

Association of British Insurers (ABI)

The ABI (Association of British Insurers) represents the collective interests of the UK’s insurance industry. The Association speaks out on issues of common interest; helps to inform and participate in debates on public policy issues; and also acts as an advocate for high standards of customer service in the insurance industry.

The Association has around 400 companies in membership. Between them, they provide 94% of domestic insurance services sold in the UK. ABI member companies account for almost 20 per cent of investments in the London stock market. For more information see: www.abi.org.uk

Association of Investment Companies (AIC)

"The Association of Investment Companies (AIC) is the trade organisation for the closed-ended investment company industry. It represents a broad range of closed-ended investment companies, incorporating investment trusts, offshore investment companies and venture capital trusts (VCTs) which are traded on the London Stock Exchange, AIM and Euronext.
For more details: www.theaic.co.uk

Banking Code

The banking code is a voluntary code that sets standards of good banking practice for financial institutions to follow when they are dealing with personal customers in the UK.

Key voluntary standards include: ensuring that advertising and marketing are not misleading; that product information is clear; lending in a ‘responsible’ way; considering cases of financial difficulty; and protecting privacy of customers.

It applies to current accounts (including basic banking accounts), savings and deposit accounts (including cash ISAs and cash deposit Child Trust Funds), payment services (including foreign exchange services), cards, pin numbers, loans and overdrafts. It does not cover mortgages, investments, insurance, Premium Bonds or currency accounts. For full details see: www.bankingcode.org.uk

Business in the Community (BITC)

One of the Prince’s Charities, Business in the Community is a membership organisation that ‘mobilises business for good’ in four areas: workplace, marketplace, environment and community. Climate change is one of its top campaigning priorities. For more information see: www.bitc.org.uk

BITC Community Index

The Community Index benchmarks companies against their peers, and against all companies that participate in the Index, assessing the extent to which corporate strategy is integrated into business practice throughout an organisation. It provides a benchmark for companies to evaluate their management practice, performance and impact of community investment.
For more information see: www.bitc.org.uk

BITC Corporate Responsibility Index

The Environment Index is a self-assessed corporate environmental benchmark and is a stand-alone module of Business in the Community’s broader CR Index.  It gives companies a framework to compare their environmental management and performance with peers.
For more information see: www.bitc.org.uk

Business for Social Responsibility (BSR)

BSR works with a network of over 250 member companies to develop sustainable business strategies through consulting, research and cross-sector collaboration. For more information see: www.bsr.org

Business Leaders Initiative on Human Rights

The Business Leaders Initiative on Human Rights (BLIHR) is a programme to help develop the corporate response to human rights. It is a business-led programme with 14 corporate members.

Carbon Disclosure Project (CDP)

The Carbon Disclosure Project (CDP) is an independent not-for-profit organisation which holds the largest database of corporate climate change information in the world. The data is obtained from responses to CDP’s annual Information Requests, issued on behalf of institutional investors, purchasing organisations and government bodies to over 3000 corporations across the globe. CDP encourages private and public sector organisations to measure, manage and reduce emissions and climate change impacts. For more information see: www.cdproject.net

Carbon Disclosure Leadership Index

Measures the best performers in the carbon-intensive sectors and the non-carbon intensive sectors, based on data disclosed to the Carbon Disclosure Project. www.cdproject.net

Carbon Principles

The Carbon Principles provide an approach for banks and their US power clients to evaluate and address carbon risks in the financing of electric power projects.  The Principles and the accompanying Enhanced Environmental Diligence Process strive to create industry best practice for evaluating options to meet the electric power needs of the United States in an environmentally responsible and cost effective manner in an uncertain policy environment. For more information see: www.carbonprinciples.org

Coalition for Environmentally Responsible Economies (CERES)

The Coalition for Environmentally Responsible Economies is an America-based network of investors, environmental organizations and other public interest groups working with companies and investors to address sustainability challenges such as global climate change. Its stated mission is to integrate sustainability into capital markets for the health of the planet and its people. For more information see: www.ceres.org

Convention on the Rights of the Child (CRC or UNCRC)

The Convention requires that states act in the best interests of the child. It includes provisions on certain basic rights, including the right to life, his or her own name and identity, to be raised by his or her parents within a family or cultural grouping and have a relationship with both parents, even if they are separated.

The Convention also acknowledges that children have the right to express their opinions and to have those opinions heard and acted upon when appropriate and in judicial settings, to be protected from abuse or exploitation, to have their privacy protected and requires that their lives not be subject to excessive interference. The Convention generally defines a child as any person under the age of 18, unless an earlier age is recognized by a country's law.
 
Additions to the Conventions were made in 2000 to cover child pornography and the use of children in the military. These were acknowledged by over 120 of the 195 member countries, 193 of whom had already adopted the Convention, with the exception of the US and Somalia.
For more details see: http://www.unhchr.ch/html/menu3/b/k2crc.htm

Climate Leadership Index

The Climate Leadership Index (CLI) reveals which high-impact FT500 companies have the most comprehensive climate-change disclosure practices in place, judging by each company's response to the Carbon Disclosure Project questionnaire. The CLI is comprised of 50 companies. See www.cdproject.net

Climate Group

A membership organisation whose goal is to help government and business set the world economy on the path to a low-carbon future.  It works with coalition of governments and the world’s most influential businesses. For more information see: www.theclimategroup.org

Climate Principles

This voluntary framework aims to guide the finance sector in tackling the challenge of climate change. They address the management of operational greenhouse gas (GHG) emissions and provide direction on managing climate change in research activities; asset management; retail banking; insurance and re-insurance; corporate banking; investment banking and markets; and project finance. For more information see: www.theclimategroup.org

ClimateWise

ClimateWise is a group of over 40 leading companies and organisations in the insurance industry committed to taking action to reduce the risk of climate change and to reporting publicly on their individual performances. All are signatories to the ClimateWise Principles, which commit them to:

  • Leading the way in analysing and reducing risks;
  • Informing and engaging in public policy debate;
  • Supporting climate awareness amongst customers;
  • Incorporating climate change into investment strategies; and
  • Reducing the environmental impact of businesses


For more information see: www.climatewise.org.uk

CSR Europe

CSR Europe has around 70 multinational corporations and 25 national partnership organisations as members. The organisation aims to support these members in integrating corporate social responsibility into the way they do business. For more information see: www.csreurope.org

Dow Jones Global Islamic Index

The Dow Jones Islamic Market Indexes were introduced in 1999 as the first benchmarks to represent Islamic-compliant portfolios. An independent Shariah Supervisory Board counsels Dow Jones Indexes on matters related to the compliance of index-eligible companies.

Dow Jones Sustainability Index

Launched in 1999, the Dow Jones Sustainability Indexes track the financial performance of the leading sustainability-driven companies worldwide. For more information see: www.sustainability-index.com

Employers Forum on Age (EFA)

The EFA has over 180 member organisations that collectively employ over four million people in the UK (more than 14% of the UK workforce). The EFA advises Government on age related policy issues; supports members in creating an ‘age neutral’ workplace; highlights the pros and cons of new employment laws and campaigns against age discrimination. For more information see: www.efa.org.uk

Employers Forum on Disability (EFD)

Employers' Forum on Disability is a leading employers' organisation focused on disability as it affects business. It is supported by members from UK business, multinational corporations, SMEs and the public sector. For more information see: www.efd.org.uk

Equator Principles

The Equator Principles are a financial industry benchmark for determining, assessing and managing social and environmental risk in project finance.

The Equator Principles Financial Institutions (aka signatories) have adopted the Principles to ensure that the projects they finance are developed in a manner that is socially responsible and reflect sound environmental management practices. Negative impacts on project-affected ecosystems and communities should therefore be avoided where possible, and if these impacts are unavoidable, they should be reduced, mitigated and/or compensated for appropriately.

For full details of the Principles, see: www.equator-principles.com

Ethical Trading Initiative

An alliance of companies, trade unions, charities and campaigning organisations that work together to improve working conditions in global supply chains. www.ethicaltrade.org

European CSR Alliance

The European Alliance for Corporate Social Responsibility is an open partnership for enterprises to promote and encourage CSR. The Alliance was launched in 2006 as a joint initiative of the European Commission and the business community.

For more information see: http://www.csreurope.org/pages/en/alliance.html

Eurosif Transparency Guidelines

The European Social Investment Forum (Eurosif) is a pan-European group whose mission is to address sustainability through financial markets. Current member affiliates of Eurosif include pension funds, financial service providers, academic institutes, research associations and NGO's. Its transparency guidelines were launched in November 2004 and aim to create more clarity on the principles and processes of SRI mutual funds. This is to help consumers (investors) make more informed choices, to encourage best practice among fund managers, as well as to pre-empt legislation on SRI mutual funds that would not integrate the view of practitioners.

There are about 50 signatories, representing more than 140 SRI funds. For more information on the guidelines, see: http://www.eurosif.org/publications/european_sri_transparency_guidelines

Extractive Industries Transparency Initiative (EITI)

The Extractive Industries Transparency Initiative (EITI) aims to strengthen governance by improving transparency and accountability in the extractives sector. The EITI sets a global standard for companies to publish what they pay and for governments to disclose what they receive. For more information see: http://www.eitransparency.org/

FORGE

FORGE provide guidelines on environmental management and reporting to the financial services sector. For further details see: http://www.abi.org.uk/forge/ForgeText.htm

Forest Stewardship Council (FSC)

FSC is an independent, non-governmental, not for profit organization established to promote the responsible management of the world’s forests.It provides standard setting, trademark assurance and accreditation services for companies and organizations interested in responsible forestry.Products carrying the FSC label are independently certified to assure consumers that they come from forests that are managed to meet the social, economic and ecological needs of present and future generations. For more information see: www.fsc.org

FTSE4Good Index

The FTSE4Good Index Series has been designed to measure the performance of companies that meet globally recognised corporate responsibility standards, and to facilitate investment in those companies. For more information see: http://www.ftse.com/Indices/FTSE4Good_Index_Series/index.jsp

Global Investment Performance Standards (GIPS)

The GIPS standards are a set of standardized, industry-wide ethical principles that provide investment firms with guidance on how to calculate and report their investment results to prospective clients. CFA Institute created and administers the GIPS standards which have been sponsored and promoted in nearly 30 countries. For more details: www.gipsstandards.org

Global Witness

Global Witness is an organisation that seeks to expose ‘corrupt exploitation of natural resources and international trade systems’ to end resource-linked conflict and human rights and environmental abuses.

For more information see: www.globalwitness.org

Global Reporting Initiative (GRI)

The Global Reporting Initiative (GRI) provides a sustainability reporting framework which sets out the principles and indicators that organisations can use to measure and report their economic, environmental and social performance. More than 1,500 companies, including many of the worlds leading brands, have declared their voluntary adoption of the Guidelines worldwide.  For more information see www.globalreporting.org

Health & Safety Executive (HSE)

HSE's remit is to protect people against risks to health or safety arising out of work activities. It does this through research, information and advice, promoting training, new or revised regulations and codes of practice, inspection, investigation and enforcement.
For more information: www.hse.gov.uk

Institutional Investors Group on Climate Change

A forum for collaboration between pension funds and other institutional investors on issues related to climate change. IIGCC seeks to:

  • Promote better understanding of the implications of climate change amongst its members and other institutional investors.
  • Encourage companies and markets in which IIGCC members invest to address any material risks and opportunities to their businesses associated with climate change and a shift to a lower carbon economy. For further information: www.iigcc.org

Institutional Shareholders’ Committee (ISC)

The ISC is a forum which allows the UK’s institutional shareholding community to exchange views and coordinate their activities in support of the interests of UK investors.  Its constituent members are: The Association of British Insurers (ABI), the Association of Investment Companies (AIC), the Investment Management Association (IMA) and the National Association of Pension Funds (NAPF).

For more information see: www.institutionalshareholderscommittee.org.uk

Institutional Voting Information Service (IVIS)

Members of the UK and international investment community subscribe to the IVIS service to help them exercise their voting rights. For more details see: www.ivis.co.uk

International Corporate Governance Network

The International Corporate Governance Network (ICGN) is a not-for-profit company whose primary function is to provide an investor-led network for the exchange of views and information about corporate governance issues internationally; to examine corporate principles and practices and to develop standards and guidelines; and to promote good corporate governance. Membership of ICGN is open to those ‘who are committed to the development of good corporate governance’. For more information see: www.icgn.org

International Finance Corporation (IFC)

The IFC states that it 'fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing capital in the international financial markets, and providing advisory services to businesses and governments'.

Its work is concentrated in Sub-Saharan Africa, East Asia & the Pacific, South Asia, Europe & Central Asia, Latin America & the Caribbean and Middle East & North Africa. For more information see: www.ifc.org

International Labour Organisation (ILO)

The International Labour Organization (ILO) is a UN agency that brings together governments, employers and workers of its member states to promote and advance opportunities for women and men to obtain decent and productive work in conditions of freedom, equity, security and human dignity. Its main aims are to promote rights at work, encourage decent employment opportunities, enhance social protection and strengthen dialogue in handling work-related issues. For more details see: www.ilo.org

International Organisation for Standardisation (ISO)

ISO (International Organization for Standardization) is the world's largest developer and publisher of International Standards. It  is a non-governmental organization comprised of a network of the national standards institutes of 160 countries, one member per country, with a Central Secretariat in Geneva, Switzerland, that coordinates the system. For more details see: www.iso.org

ISO Environmental Management Standard (ISO14001)

ISO 14001 specifies the requirements for an environmental management system. It applies to those environmental aspects which the organization has control and over which it can be expected to have an influence. This standard is applicable to any organization that wishes to:

  • implement, maintain and improve an environmental management system
  • assure itself of its conformance with its own stated environmental policy (those policy commitments of course must be made)
  • demonstrate conformance
  • ensure compliance with environmental laws and regulations
  • seek certification of its environmental management system by an external third party organization
  • make self-determination of conformance

Kyoto Protocol

The Kyoto Protocol is an international agreement linked to the United Nations Framework Convention on Climate Change. The major feature of the Kyoto Protocol is that it sets binding targets for 37 industrialized countries and the European community for reducing greenhouse gas (GHG) emissions .These amount to an average of five per cent against 1990 levels over the five-year period 2008-2012.

The major distinction between the Protocol and the Convention is that while the Convention encouraged industrialised countries to stabilize GHG emissions, the Protocol commits them to do so. For more info see: www.unfccc.int

Local Authority Pension Funds Forum Council of Institutional Investors

The Local Authority Pension Fund Forum brings together a range of local authority pension funds with combined assets of over £95 billion. Formed in 1990, it provides an opportunity for discussion of investment issues and shareholder action by Britain's local authority pension funds. For more info see: www.lapfforum.org

London Benchmarking Group

The London Benchmarking Group (LBG) is a member-driven organisation comprised of over 100 companies working together to measure Corporate Community Investment (CCI).

The LBG model is used by companies around the world to assess and report on the value and achievements of their corporate community investment. For more information see: www.lbg-online.net/lbg

London Climate Change Agency

The London Climate Change Agency was established as the primary delivery vehicle for reducing London's carbon dioxide emissions. The objective of the LCCA is to deliver projects that reduce greenhouse gas – mainly carbon dioxide - emissions from London in the sectors of energy, waste, water and transport. The LCCA plays a key role in delivering the Mayor's Climate Change Action Plan and the Mayor's Energy Strategy.

The London Climate Change Agency has been established with the support of the following founders: BP, Lafarge, Legal & General, Sir Robert McAlpine, Johnson Matthey, and the City of London Corporation. For more information see: www.lcca.co.uk

New Economics Foundation (NEF)

NEF is an independent think tank aims to promote innovative solutions and challenge mainstream thinking on economic, environment and social issues. It was founded in 1986 by the leaders of The Other Economic Summit (TOES) which forced issues such as international debt onto the agenda of the G7 and G8 summits. For more information see: www.neweconomics.org

Organisation for Economic Co-operation and Development (OECD)

The OECD states that it brings together the governments of ‘countries committed to democracy and the market economy’ from around the world to:          

  • Support sustainable economic growth
  • Boost employment
  • Raise living standards
  • Maintain financial stability
  • Assist other countries' economic development
  • Contribute to growth in world trade


OECD also shares expertise and exchanges views with more than 100 other countries and economies, from Brazil, China, and Russia to the least developed countries in Africa. For more information see: www.oecd.org

Opportunity Now

Part of Business in the Community, Opportunity Now has over 330 members, representing employers who want to develop more inclusive workplaces for women. The not-for-profit organisation states that it works to build and communicate the business case for inclusion and to give employers the tools to drive change.  For more information see: www.opportunitynow.org.uk

Oxfam 365 Alliance

The Oxfam 365 Alliance is a strategic partnership between Oxfam and companies to provide ongoing support to Oxfam's emergency work, 365 days of the year. Oxfam 365 Alliance partners, including founding partners The Vodafone Foundation and Aviva plc, provide upfront funds that enable Oxfam to respond immediately when each emergency hits. The 365 Alliance is all about 'preparedness at all times' and allows companies to demonstrate their ongoing commitment to social responsibility. For more information see: http://www.oxfam.org.uk/get_involved/companies/365.html

Race for Opportunity

Race for Opportunity (RFO) is Business in the Community's workplace programme focusing on race equality. For more details see: http://www.bitc.org.uk/workplace/diversity_and_inclusion/race/index.html

Red List

The IUCN Red List provides details of conservation status of endangered plants and animals and promotes protection of ecosystems and biodiversity.
For more details: www.iucnredlist.org  

Scottish Business in the Community

Scottish Business in the Community (SBC) is a member-lead, not-for-profit company whose aim is to ‘support, broker and challenge businesses to continually improve their positive impact on society to ensure a successful, sustainable economy and environment.’ For more information see: www.sbcscot.com

Stonewall Diversity Champions Programme

Stonewall's Diversity Champions programme is a forum in which employers can work with Stonewall, and each other, to promote lesbian, gay and bisexual equality in the workplace. The forum now has some 400 members. For more information see: http://www.stonewall.org.uk/workplace/1447.asp

Universal Declaration of Human Rights (UDHR)

Adopted by the United Nations General Assembly in 1948, the UDHR consists of 30 articles which have been elaborated in subsequent international treaties, regional human rights instruments, national constitutions and laws. Included in the articles are the prohibtion of slavery; torture; arbitrary arrest, detention or exile; the right to privacy; the right to freedom of movement; the right to asylum from persecution; freedom of thought, conscience and religion; freedom of opinion and expression; the right to work without discrimination and the right to equal pay for equal work. For more information see: http://www.un.org/Overview/rights.html

United Nations Environment Programme Finance Initiative (UNEP FI)

The United Nations Environment Programme Finance Initiative (UNEP FI) is a global partnership between the United Nations Environment Programme (UNEP) and the financial sector.

UNEP FI works with over 170 financial institutions who are signatories to the UNEP FI Statements, and a range of partner organizations to develop and promote linkages between the environment, sustainability and financial performance. Through regional activities, a  work programme, training programmes and research, UNEP FI carries out its mission to identify, promote, and realise the adoption of best environmental and sustainability practice at all levels of financial institution operations. For more information: www.unepfi.org

United Nations Global Compact (UNGC)

The UN Global Compact is a strategic policy initiative for businesses that are committed to aligning their operations and strategies with ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption. The principles are:

  • Businesses should support and respect the protection of internationally proclaimed human rights.
  • Businesses should sure that they are not complicit in human rights abuses.  
  • Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining.
  • Businesses should uphold the elimination of all forms of forced and compulsory labour.
  • Businesses should uphold the effective abolition of child labour.
  • Businesses should uphold the elimination of discrimination in respect of employment and occupation. 
  • Businesses should support a precautionary approach to environmental challenges.
  • Businesses should undertake initiatives to promote greater environmental responsibility.
  • Businesses should encourage the development and diffusion of environmentally friendly technologies.                       
  • Businesses should work against corruption in all its forms, including extortion and bribery.  

For more information see: www.unglobalcompact.org

United Nations Principles of Responsible Investment (UNPRI)

The United Nations Principles for Responsible Investment (UN PRI) is an investor initiative undertaken in partnership with the United Nations Environment Programme Finance Initiative (UNEP FI) and the United Nations Global Compact. Launched in April 2006, the Principles are designed to align the goals of institutional investors with the sustainable development objectives of the United Nations. The PRI has succeeded in drawing support from the investment community. Upon launch 20 mainstream institutional asset owners signed up, representing USD 2 trillion in assets under management. As of September 2008, the value of assets managed by the signatories to the PRI exceeded USD 15 trillion.  For more information see: www.unpri.org

Wolfsberg Principles

The Wolfsberg Group is an association of eleven global banks, which aims to develop financial services industry standards, and related products, for Know Your Customer, Anti-Money Laundering and Counter Terrorist Financing policies. For more information see: http://www.wolfsberg-principles.com/

World Business Council for Sustainable Development (WBCSD)

The World Business Council for Sustainable Development (WBCSD) is a CEO-led, global association of some 200 companies dealing exclusively with business and sustainable development. The Council provides a platform for companies to explore sustainable development, share knowledge, experiences and best practices, and to advocate business positions on these issues in a variety of forums, working with governments, non-governmental and intergovernmental organizations.

Members are drawn from more than 35 countries and 20 major industrial sectors. The Council also benefits from a global network of about 55 national and regional business councils and regional partners.

In the organisation's mission statement it states that it seeks to 'provide business leadership as a catalyst for change toward sustainable development, and to support the business license to operate, innovate and grow in a world increasingly shaped by sustainable development issues.' For more information see: www.wbcsd.org

World Resources Institute (WRI)

The World Resources Institute (WRI) is an environmental think tank whose mission is 'to move human society to live in ways that protect Earth’s environment and its capacity to provide for the needs and aspirations of current and future generations'.

WRI helps other institutions provide objective information and practical proposals for policy and institutional change that will foster environmentally sound, socially equitable development. For more information see: www.wri.org