SRI Principles of the FRR
The FRR’s socially responsible investment strategy must be in alignment with the ten principles of the UN’s Global Compact, which forms a unifying framework that is internationally recognized and sufficiently broad to encompass local realities in different geographic regions of the world, while also making a clear reference to the basic standards recognized b the ILO (International Labour Organisation).
The Global Compact asks companies to embrace, support and enact, within their sphere of influence, a set of core values in the areas of human rights, labour standards, the environment, and anti-corruption. The Global Compact’s ten principles in the areas of human rights, labour, the environment and anti-corruption enjoy universal consensus and are derived from The Universal Declaration of Human Rights, The International Labour organisation’s Declaration on Fundamental Principles and Rights at Work , The Rio Declaration on Environment and Development and The United Nations Convention Against Corruption.
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.
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 labour;
Principle 5: the effective abolition of child labour; and
Principle 6: the elimination of discrimination in respect of employment and occupation.
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.
Principle 10: Businesses should work against all forms of corruption, including extortion and bribery.