Impact investment funds should be measured more strictly to ensure they are transparent about how much good their money is doing, the OECD said on Thursday, a day after a hoax letter on environmental investments hit global headlines. The funds, which promise social and environmental benefits as well as financial returns, could do more good if proper international standards were in place, said the Organisation for Economic Cooperation and Development in a report.
Companies should contribute to economic, social and environmental development with the aim of achieving sustainable development. The OECD Guidelines for Multinational Enterprises recommend that enterprises conduct due diligence in order to identify, prevent or mitigate and account for how actual and potential adverse impacts are addressed.
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