What is it?
The UN Global Compact presents a unique platform for participants to advance their commitments to sustainability and corporate citizenship. With close to 5, 000 company participants and stakeholders from more than 120 countries, over 60 networks in developed and emerging economies, and a spectrum of learning, dialogue and partnership modalities, companies have an unprecedented opportunity to further their business and corporate responsibility objectives, while also contributing to the momentum and strength of the Global Compact.
The Global Compact is a framework for businesses that are committed to aligning their operations and strategies with ten universally accepted principles in the areas of human rights, labour, the environment and anti-corruption . As the world's largest, global corporate citizenship initiative, the Global Compact is first and foremost concerned with exhibiting and building the social legitimacy of business and markets.
Why Participate?
There are numerous benefits to participating in the Global Compact. These include:
- Demonstrating leadership by advancing responsible corporate citizenship.
- Producing practical solutions to contemporary problems related to globalisation, sustainable development and corporate responsibility in a multi-stakeholder context.
- Managing risks by taking a proactive stance on critical issues.
- Leveraging the UN's global reach and convening power with governments, business, civil society and other stakeholders.
- Sharing good practices and learnings.
- Accessing the UN's broad knowledge in development issues.
- Improving corporate/brand management, employee morale and productivity, and operational efficiencies.
How to Participate?
As a voluntary initiative, the Global Compact seeks wide participation from a diverse group of businesses and other organizations. To participate in the Global Compact, a company:
- Sends a letter from the Chief Executive Officer (and endorsed by the board) to the Secretary-General of the United Nations expressing support for the Global Compact and its principles;
- Sets in motion changes to business operations so that the Global Compact and its principles become part of strategy, culture and day-to-day operations (described below);
- Is expected to publicly advocate the Global Compact and its principles via communications vehicles such as press releases, speeches, etc.; and
- Is expected to publish in its annual report or similar corporate report (e.g. sustainability report) a description of the ways in which it is supporting the Global Compact and its ten principles
Local networks are clusters of participants who come together to advance the Global Compact and its principles within a particular geographic context.
In 2006 EEG invited the United Nations Global Compact to launch itself in the Region from the EEG CSR Network platform. This ground breaking event was followed by the selection of EEG’s Chairperson Habiba Al Marashi to the Global Compact Board. The same year EEG was appointed the local focal point of the Global Compact for the GCC countries.
On 7th April 2008, during a historical ceremony in Dubai, EEG officially established the Global Compact Network for the GCC States, with the following main goals:
- To advance the Global Compact and its Principles in the GCC
- To raise local CSR practice to international benchmarks
- To rally the support and participation of the members of the GCC Local Network
- To create opportunities for multi-stakeholder dialogue, learning and collective actions
For more information see also: http://www.unglobalcompact.org
or contact EEG
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