The global compact is entirely nonpolitical in nature, including in its implementation, and is in line with the purposes and principles of the charter of the united nations. Guided by these global initiatives, the bank also endorses a number of initiatives, voluntary guidelines and international conventions with regards to human rights and labour rights, environmental protection and corruption, as set out below. The global compact seeks to provide a contextual framework to encourage innovation. With this communication, we express our intent to implement those principles. The united nations global compact is a voluntary initiative based on ceo commitments to implement universal sustainability principles and to undertake partnerships in. The united nations global compact, according to its website, is a strategic policy initiative for businesses that are committed to aligning their operations and strategies with ten universally accepted principles. See also sandrine tester and georg kell, the united nations and business new york. The ilo also took active part in the preparation of the source book raising the bar.
With the growth of united nations global compact ungc as an initiative, the ever expanding comprehension of their principles as a standard are perceived. The global compact s ten principles cover the areas of human rights, labour, the environment and anticorruption. United nations global compact 10 principles human rights principle 1. The global compact is framed consistent with target 10. Creating value with the united nations global compact, which contains tools, techniques, case studies, information and resources to help participant companies of all sizes and from all industries and regions implement the gc principles.
The universal declaration of human rights the international labour organizations declaration on fundamental principles and rights at work. Ten principles differing from laws, which encompass a political process in its formulation and regulation, principles are more informal, and thus are conceptually accepted as a. The united nations global compact is a strategic initiative that supports global companies whose ceos are committed to responsible business practices in the areas of human. Differentiation level this cop qualifies for the global compact active level selfassessment includes a ceo statement of continued support for the un global compact and its ten principles description of actions or relevant policies related to human rights. Corporate sustainability starts with a companys value system and a principlesbased approach to doing business. Secretarygeneral, i am pleased to confirm that name of company supports the ten principles of the united nations global compact on human rights, labour, environment and anticorruption. About united nations global compact ungc 10 principles. Thus, we continue to be committed to unyielding integrity and high standards of business conduct in everything we do. Foundation for the global compact guidestar profile. Rights and the oecd guidelines for multinational enterprises. The universal declaration of human rights the international labour organization s declaration on fundamental principles and rights at work. The global compacts ten principles cover the areas of human rights, labour, the environment and anticorruption.
Rather, the global compact relies on the enlightened selfinterest of companies, labour and civil society to initiate and share substantive action in pursuing the principles upon which the global compact is based. The ethos of the principles is embodied in the ethical practices. Companies join the global compact because they share the conviction that business practices rooted in universal principles contribute to a more stable and inclusive. As well as being a set of values based on universally accepted principles, the ungc acts as a network for over 6,000 participating organisations from 5 countries to exchange. The global compact asks companies to embrace, support and enact, within their sphere of influence, a set of core values divided in four major categories as follows. This framework mobilizes stakeholders towards achieving two common objectives within their spheres of influence. Businesses should support and respect the protection of internationally proclaimed human rights. Corporate sustainability starts with a companys value system and a principles based approach to doing business. The universal declaration of human rights the international labour organizations declaration on fundamental principles and rights at work the rio. This means operating in ways that, at a minimum, meet fundamental responsibilities in the areas of human rights, labour, environment and anticorruption. A practical guide to the united nations global compact for. This annual communication form regards actions done to improve these ten principles. This bibliography was generated on cite this for me on friday, august 7, 2015. The united nations global compact is a strategic policy initiative that encourages businesses to support ten universal principles in the areas of human rights, labor standards, the environment.
United nations global compact definition investopedia. The international labour organizations declaration on fundamental principles and rights at work. It is voluntary in nature and has 7,771 participating companies as of sep 20. The global compact asks companies to embrace, support and enact, within their sphere of influence, a set of core principles in the areas of human rights, labour standards, the environment and anticorruption. These core values make up the ten principles of the ungc. A global compact of shared values and principles, 31 january 1999, world economic forum, davos, switzerland, reprinted in vital speeches of the day 659 15 february 1999.
On 24 june 2004, during the first global compact leaders summit, kofi annan announced the addition of the tenth principle against corruption in accordance with the united nations convention against corruption adopted in 2003. The rio declaration on environment and development. Such a system will reward longterm, responsible investment. This is seen through the initiatives fast development now with around ten thousand corporate members and diverse stakeholders from over countries, it is the most stupendous voluntary. A special event was then held during the ungc leaders summit in new york in june 2010, highlighting the collaboration and initiating action. The united nations global compact is a nonbinding united nations pact to encourage businesses worldwide to adopt sustainable and socially responsible policies, and to report on their implementation. Global compact for migration international organization.
The global compact asks companies to embrace, support and enact, within their sphere of influence, a set of core values in the areas of human rights, labour standards, the environment, and anticorruption. Participants in the global compact both large multinationals. I am proud that kpmg international has been a signatory of the ungc since 2002. The compact challenges business to operate according to ten principles covering bribery and corruption, human rights, labour and the environment.
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