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The United Nations Global Compact Announces New Initiatives

Submitted by: United Nations Global Compact

Categories: Community Development

Posted: Aug 16, 2004 – 12:00 AM EST

 

-- Business Participants Pioneer Evidence-Based Approach to Human Rights
-- Forum Barcelona Creates Global Compact Centre
-- Singapore CSR Conference Features Global Compact
-- ISO to Develop Social Responsibility Standard
-- Corporate Leaders at Global Compact Summit Pledge to Battle Corruption
-- Investment Houses Endorse Initiative; Stock Exchanges Join Compact
-- CSR Hits Limit, Report Concludes
-- Global Compact Launches Integrity Measures
-- Global Compact Promotes Practical Solution-Finding
-- McKinsey Report Highlights Impact of Global Compact
-- Launch in Botswana
-- Conflict Prevention Meeting in Colombia

Aug. 16 /CSRwire/ - NEW YORK - The United Nations Global Compact today announced the following initiatives:

Business Participants Pioneer Evidence-Based Approach to Human Rights
Five Global Compact participants (Novartis, Novo Nordisk, ABB, Hewlett-Packard and Statoil) are among the eight companies participating in the Business Leaders Initiative for Human Rights. (See www.unglobalcompact.org; under News & Events)

Forum Barcelona Creates Global Compact Centre
Forum Barcelona, a public-private partnership to advance sustainable development and peace-building, has announced its support of the Global Compact and the establishment of a Global Compact Centre in Barcelona, Spain. (See www.unglobalcompact.org; under News & Events)

Singapore CSR Conference Features Global Compact
On 12 and 13 July 2004, the Centre for Corporate Social Responsibility in Singapore held its first Asia Pacific CSR Seminar Series in conjunction with the Social Venture Network Asia Conference. (See www.unglobalcompact.org; under News & Events)

ISO to Develop Social Responsibility Standard
On June 21-22, the International Organization for Standardization (ISO) held a major conference on corporate social responsibility in Stockholm. The purpose of the conference was to provide feedback to ISO on whether or not to develop international standards for addressing the social responsibility of organizations worldwide. The conference set the stage for a meeting held later that same week in which ISO management voted in favor of developing an International Standard on Social Responsibility. (See www.unglobalcompact.org; under News & Events)

Corporate Leaders at Global Compact Summit Pledge to Battle Corruption
Chief executives from around the globe agreed to battle graft and corruption in addition to recommitting themselves to the Global Compact. At the Summit, the Global Compact adopted a 10th principle on anti-corruption. (See www.unglobalcompact.org; under News & Events)

Investment Houses Endorse Initiative; Stock Exchanges Join Compact
Twenty major investment companies endorsed a Global Compact report and initiative, Who Cares Wins, focusing on connecting financial markets to environmental, social and governance criteria, and agreed on steps to bring other actors in the financial world into accord on how these factors would become standard components in the analysis of corporate performance and investment decision-making. The 20 companies control $6 trillion in assets. The Who Cares Wins initiative, announced at the Leaders Summit, was undertaken in partnership with the Swiss Government, The Conference Board, and UNEP FI, which also released 11 relevant sector studies. Separately, a number of stock exchanges from around the world agreed to begin sharing information on the Global Compact with their listed companies, and to explore other partnership arrangements with the Global Compact. Bovespa, the Jakarta Stock Exchange, and the Istanbul Stock Exchange announced their decisions to join the Compact and commit to its principles. (See www.unglobalcompact.org; under News & Events)

CSR Hits Limit, Report Concludes
Gearing Up, a new SustainAbility report launched on 24 June in New York at the Global Compact Leaders Summit, concludes that despite achieving impressive momentum the corporate responsibility movement is bumping up against real limits. The report also includes a useful tool for companies: The Global Compact Challenge. (See www.unglobalcompact.org; under News & Events)

Global Compact Launches Integrity Measures
The Global Compact introduced a set of measures intended to safeguard the initiative's integrity. For the most part, these Integrity Measures codify the existing practice and procedures of the Global Compact Office. However, one new measure concerns implementation of the Global Compact policy on communicating progress. This policy is designed to encourage companies to communicate at least annually to their stakeholders and the public at large on progress made in internalizing the principles within their own operations and activities. This is known as the Communication on Progress. (See www.unglobalcompact.org; under News & Events)

Global Compact Promotes Practical Solution-Finding
The Global Compact served as a platform for dialogue between two Global Compact participants - ENI and Cittadinanzattiva - in an environmental controversy involving the Enrichem's Priolo Plant (a subsidiary of ENI) in Priolo (Sicily). (See www.unglobalcompact.org; under News & Events)

McKinsey Report Highlights Impact of Global Compact
On 9 June, the Global Compact Office officially released a comprehensive report undertaken by McKinsey & Company that assesses the Global Compact's impact since the initiative's launch in July 2000. The independently prepared report, entitled "Assessing the Global Compact's Impact", was based on extensive data analysis, interviews and surveys conducted with a range of stakeholders, including Global Compact participants as well as outside observers and detractors. The assessment concludes that, overall, the Global Compact has been a positive force for change. (See www.unglobalcompact.org; under News & Events)

Botswana Launches Compact
On 27 May, close to 60 representatives of national and international companies, government, civil society and UN agencies gathered in Gaborone for the launch of the Global Compact in Botswana. (See www.unglobalcompact.org; under News & Events)

Conflict Prevention Meeting in Colombia
More than 150 representatives of the private sector, civil society, labour, government and the UN system gathered in Bogotá/Colombia on 27-28 May for a Global Compact meeting on "The Role of the Private Sector in Conflict Prevention and Peace Building." This meeting was the third in a series of regional Policy Dialogues designed to develop practical recommendations on how the private sector can play a positive role in conflict transformation. The event was financed by the Government of Canada and is supported by the UNDP country office in cooperation with the Corporación Excelencia en la Justicia (CEJ). (See www.unglobalcompact.org; under News & Events)

For more information, please contact:

Gavin Power Senior Advisor, U.N. Global Compact

For more from this organization:

United Nations Global Compact

 

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