The CFA Institute, a global association of investment professionals based in Charlottesville, has signed on to the United Nations Global Compact, committing the company to human and labor rights and the environment.

More than 8,000 businesses worldwide, including 188 banks and 587 other financial services organizations, have signed the Global Compact. The CFA Institute is the first organization in Virginia to join the program, according to a news release.

Participants in the Global Compact commit to protecting human rights and the right to collective bargaining, eliminating all forms of forced or compulsory labor, abolishing child labor and maintaining nondiscriminatory hiring practices.

“We are proud to join the thousands of organizations that recognize the unique ability of the U.N. Global Compact to have a meaningful impact on human rights, labor, environmental and anti-corruption issues everywhere they exist,” Paul Smith, CFA, president and CEO of the CFA Institute, said in the release.

“CFA Institute has long held that responsible business practices can bring about powerful, positive change in financial markets and society. We look forward to adding our voice and reach to reinforcing the need to adhere to the highest levels of responsibility.”

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