Friends Fiduciary supports investor statement on the Russian military invasion and ongoing war against Ukraine

May 20, 2022

Friends Fiduciary has signed onto an investor letter committing to address human rights risks in portfolios, specifically those associated with the Russian invasion of Ukraine. The letter “supports the Ukrainian people, their protections under international humanitarian law, and their recognized rights to life, freedom, democracy, and territorial integrity.” Russia’s human rights abuses have “manifested in salient and material risks that threaten the rights of the Ukrainian people and the integrity of investment portfolios.” The letter commits signers to carry out enhanced due diligence of portfolios as called for by the United Nations Guiding Principles on Business and Human Rights and the OECD Guidelines for Multinational Enterprises. The letter also encourages other investors to do the same. Aligning with these international standards is necessary for the “long-term effective functioning of our global society and a corresponding healthy economy.” As this conflict continues in Ukraine, it is vital that government and business action continues to support the protection of human rights as a “moral, legal, and financial imperative.”