Commitment vs. Practice: A Comparison of CSR Performance of the UN Global Compact Signatories and Non-Signatories

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22 Commitment vs. Practice 22 EcoVadis study on UN Global Compact 2018 22 About United Nations Global Compact 12 13 14 pdf Launched in 2000, the United Nations Global Compact is the world's largest and most recognized corporate sustainability initiative with nearly 10,000 signatories in a variety of industries and sectors. It is a call for companies to align both their strategies and operations with universal principles of human rights, labor, the environment, and anti- corruption in order to advance societal goals, and in particular, the UN Sustainable Development Goals. The Ten Principles serve as a universal framework for responsible business conduct, while providing a common practical framework for corporate responsibility. 12 To contribute positively to sustainable develop- ment, companies must implement the Ten Principles of the UN Global Compact in the areas of human rights, labour, environment and anti-corrup- tion, each derived from landmark UN Declarations and Conventions. By embedding these Ten Principles into strategies, policies and procedures, and establishing a culture of integrity, companies are not only upholding their basic responsibilities to people and planet, but also setting the stage for long-term success. The Ten Principles are a universal framework for responsible business conduct, guiding business toward practices that ensure financial profit is THE UNIVERSAL APPLICABILITY OF THE TEN PRINCIPLES Because the Ten Principles are derived from core UN Declarations and Conventions, they are relevant and applicable around the world wherever a company might have a presence. The Ten Principles are derived from: The Universal Declaration of Human Rights The International Labour Organization's Declaration on Fundamental Principles and Rights at Work The Rio Declaration on Environment and Development The United Nations Convention Against Corruption 1 2 3 4 THE TEN PRINCIPLES OF THE UNITED NATIONS GLOBAL COMPACT HUMAN RIGHTS Businesses should support and respect the protection of internationally proclaimed human rights; and make sure that they are not complicit in human rights abuses. LABOUR Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining; the elimination of all forms of forced and compulsory labour the effective abolition of child labour; and the elimination of discrimination in respect of employment and occupation. ENVIRONMENT Businesses should support a precautionary approach to environmental challenges; undertake initiatives to promote greater environmental responsibility; and encourage the development and diffusion of environmentally friendly technologies. ANTI-CORRUPTION Businesses should work against corruption in all its forms, including extortion and bribery. 1 2 3 4 5 6 7 8 9 10 Source: UN Global Compact Progress Report 2018 Adherence Mechanisms and Requirements (COP) The UN Global Compact is a voluntary initiative that encourages participation from a wide range of businesses. Participating companies are required to prepare a Letter of Commitment signed by the chief executive to the Secretary-General of the United Nations expressing commitment to (i) the UN Global Compact and its Ten Principles; (ii) take action in support of UN goals; and (iii) the annual submission of a Communication on Progress (COP). 13 The COP will include the three necessary elements: a statement signed by the chief executive expressing continued support for the Global Compact, a description of practical actions, and a measurement of outcomes. 14

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