The United Nations' staff pension fund has around $1bn invested in firms not compatible with core UN principles, the Guardian has found.

An investigation by the paper revealed that the UN was facing calls for a full review, after it emerged that the $64bn pension fund was invested in companies which are being prosecuted for corrupt practices, human rights abuses or environmental catastrophes.

The biggest investment by the fund is a $210m interest in Shell, a company criticised in a 2011 UN report for “creating public health and safety issues", culpable for contributing to “the world’s most wide-ranging and long-term oil clean up exercise ever taken”.

Facing Finance managing director, Thomas Küchenmeister, said: “These investments clearly undermine the credibility of a well-respected organisation. How can I promote sustainable development and the protection of human rights and simultaneously benefit from violations of these?”

Global Witness member of the oil and gas mining team, Barnaby Pace told the Guardian that as a global leader, the UN must invest responsibly and leverage its investment position to ensure robust anti-corruption measures in practice.

Furthermore, the UN fund holds a combined $244m in both HSBC and Barclays, both of which have been pursued by authorities over covert financial transactions.

GlaxoSmithKline, of which the fund holds $78m of shares, was ordered to give the US Justice Department $3bn for failing to provide drug safety data.

UN special rapporteur for human rights and the environment, John Knox,
declined to comment on specific companies, but said: “The United Nations has moral and legal responsibilities to take the lead in promoting and protecting human rights, including the rights undermined by environmental degradation … and [should] seriously consider how to ensure that its investments are consistent with those responsibilities.”

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