Private banking, investment management and investor services firm Brown Brothers Harriman (BBH) today announced that it has joined two leading standards-based organizations, the United Nations-supported Principles for Responsible Investment (PRI) and the United Nations Global Compact.
BBH stated that the decision to join the organizations aligned with the firm’s ‘Sustainable BBH’ initiative, in which the company united its existing social and environmental efforts and launched several new programs to form a comprehensive firm-wide program.
Bill Tyree, Managing Partner at BBH, said:
“We are pleased to have been accepted by both the UN-supported PRI and the UN Global Compact into a growing global network of like-minded organizations committed to responsible and principled business practices. We believe this is not the time for short-term thinking. This must be a time to lean into our values, do the right thing, and to put our stakeholders first. These partnerships are significant indications of our commitment to advancing sustainability goals, which are more likely to succeed if we work together.”
The PRI was established by a group of investor signatories in 2006, supported by the United Nations, to aid investors in integrating ESG factors into the investment process. BBH stated that it is joining the PRI in line with its belief that incorporating ESG criteria in its investment process enhances the firm’s ability to manage risk and achieve long-term investment objectives.
The UN Global Compact is a consortium of companies and organizations across the globe committed to aligning their strategies and operations with the Compact’s Ten Principles on human rights, labor, environment, and anti-corruption, and to take strategic action to advance broader societal goals such as the UN Sustainable Development Goals (SDGs).
Fiona Reynolds, CEO of the PRI, said:
“We are delighted to welcome Brown Brothers Harriman as a PRI signatory. We applaud their focus on sustainability and collaboration and look forward to working with the team on their long-term commitment to ESG investment.”