UNITED NATIONS — Global companies looking to be good corporate citizens now will have a set of rules to follow courtesy of the United Nations.
Sustainable growth has been a growing concern for the U.N. and has become an increasingly popular investing style. Sustainable Development Goals have become buzz-worthy enough in the markets to merit their own bonds — a market that is small now but projected by one fixed income expert to reach into the trillions someday.
At this week's General Assembly, top U.N. officials and global dignitaries spent an afternoon discussing SDGs and how corporations can fit in, both by desire and design. Nestle CEO Mark Schneider complained at a luncheon Monday that while his company has done much to change the way it approaches business, there are only sketchy guidelines for companies to follow to be considered in compliance with U.N. standards.
"When it comes to our company, I feel really good about the level of commitment," Schneider said during a panel discussion moderated by CNBC's Becky Quick. "What we need is commonly agreed metrics and principles when it comes to sustainability. Without that, you will always have that free-rider principle."