What does it mean to be a member of UN Global Compact?
Key Takeaways. The United Nations Global Compact is an initiative that global corporations can sign on to committing to responsible business practices in the areas of human rights, labor, the environment, and corruption.
What are the requirements for companies to adopt the UN Global Compact?
To participate in the UN Global Compact, we require a commitment from your chief executive (or equivalent, for non-business entities) – with support from the Board. This commits your organization to meet fundamental responsibilities in four areas: human rights, labour, environment and anti-corruption.
What are the benefits of the UN Global Compact?
Benefits of joining:
- Unprecedented networking access with UN Global Compact participants – representing nearly every industry sector and size, in over 160 countries.
- Access to partnerships with a range of stakeholders – to share best practices and emerging solutions.
- Best practice guidance – built on 15 years of successes.
How does the UN Global Compact principle affect business?
Companies that have adopted the UNGC principles are continuously revamping their practices and adopting management systems that help them mitigate CSR risks within their operations and their supply chains – providing a level of visibility needed to ensure sustainable, responsible protocols are being followed.
How does the UN Global Compact work?
The UN Global Compact is a call to companies to align their strategies and operations with ten universal principles related to human rights, labour, environment and anti-corruption, and take actions that advance societal goals and the implementation of the SDGs.
Who is eligible to join the UN Global Compact?
Business Application Business Applicants who are eligible to join the UN Global Compact fall under the following definitions: Company — any legal entity engaging in business, such as a corporation or partnership, with at least 250 full-time direct employees and/or any state-owned companies
What has the UN Global Compact done for the private sector?
The UN Global Compact has worked for over 15 years to engage the private sector in this area. We have developed useful resources, convened multi-stakeholder dialogues and established innovative partnerships.
How can the private sector contribute to global peace and security?
Half of the world’s population lives in high-risk and conflict-affected areas. The primary responsibility for peace and security rests with Governments. However, the private sector can make important contributions through business practices.
What is business for peace?
Business for Peace is a platform of close to 150 leading companies and business associations from 37 countries dedicated to catalyzing collaborative action to advance peace. By joining Business for Peace, companies will be able to: