UNGC

ban-ki-moon

Uncategorised

The United Nation’s Ten Principles are derived from the areas of human rights, labour, environment and anti-corruption and hope businesses will hold the same values and principles into their strategies and policies to upload a culture of integrity.

p-1

Human Rights

Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and

Principle 2: make sure that they are not complicit in human rights abuses.

p-2

Labour

Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;

Principle 4: the elimination of all forms of forced and compulsory labour;

Principle 5: the effective abolition of child labour; and

Principle 6: the elimination of discrimination in respect of employment and occupation. 

p-1

Environment

Principle 7: Businesses should support a precautionary approach to environmental challenges;

Principle 8: undertake initiatives to promote greater environmental responsibility; and

Principle 9: encourage the development and diffusion of environmentally friendly technologies.

p-2

Anti-Corruption

Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.

  

January 2015

2

klj - may 2011 large size 141x200Dear Members, Friends and Supporters,

A very Happy New Year to one and all!

2015 is a special year for Singapore Compact. Not only are we celebrating the nation’s jubilee, we are also commemorating a decade of work promoting and advancing corporate social responsibility (CSR) and sustainability through the work our organisation does.

Singapore Compact’s 10-year journey has been nothing short of remarkable. From our inception in 2005 following the National Tripartite Initiative for CSR, great strides have been made in the CSR and sustainability fields locally. Today, many more are aware of the need to protect the environment, and are indignant when they read news of poor labour standards and malpractices by businesses. It is also now a norm for companies in Singapore to have programmes related to corporate philanthropy, volunteerism and environmental protection that their employees actively participate in.

Globally, the past decade has been game-changing for the CSR field too. With the advent of information technology and the social media, flow and speed of news sharing meant that companies large and small are more closely scrutinised than ever before. As a result, more companies are stepping up their game to ensure that they run their business responsibly, and communicating these to their stakeholders. Over the past 10 years, there has been a significant increase in the number of companies producing sustainability reports. Since the formation of Global Reporting Initiative (GRI) in 2001, nearly all of the world’s largest corporations now publish some form of sustainability report, and almost half of the reports listed in GRI’s database are externally assured1.

And yet, despite the advancements we have made in the CSR and sustainability arena, the world’s population is facing the growing threat of environmental degradation and the effects of extreme weather phenomenon. These have been disruptive to both businesses and communities. More must be done. This is why 2015 will likely be a watershed year for environmental and social sustainability, with the World Economic Forum this month discussing such related issues, the UN General Assembly in September firming up the Sustainable Development Goals guiding post-2015 developments and the UN Climate Change Conference in Paris in December.

While governments and leaders negotiate environmental and social targets, the influence of business cannot be underestimated. Of the largest economic entities in 2012, 40 percent are corporations2; just 90 corporations are contributing to two-third of man-made global warming emissions3. There is more that the business community can do, and events such as the World Economic Forum, UN General Assembly and Climate Change Conference will add some positive pressure to the global business community, to spur us to look more closely at and align our sustainability goals with that of the global community.

It is therefore timely that SGX is embarking on its stakeholder engagement exercise this year to gather feedback on its proposed mandatory sustainability reporting rule. With SGX’s move, Singapore’s listed companies would have to work hard in their progress to embed sustainability into their businesses. I believe this regulation would also influence non-listed companies to look into sustainability as a competitive advantage. This can only be good for Singapore and our CSR community as a whole. I encourage our members to be actively involved in the stakeholder engagement process. As advocates and practitioners, we have a major role to play in shaping the future of CSR in Singapore.

It is therefore timely that SGX is embarking on its stakeholder engagement exercise this year to gather feedback on its proposed mandatory sustainability reporting rule. With SGX’s move, Singapore’s listed companies would have to work hard in their progress to embed sustainability into their businesses. I believe this regulation would also influence non-listed companies to look into sustainability as a competitive advantage. This can only be good for Singapore and our CSR community as a whole. I encourage our members to be actively involved in the stakeholder engagement process. As advocates and practitioners, we have a major role to play in shaping the future of CSR in Singapore.

Singapore Compact is in the midst of firming up our programme for this year’s CSR Summit. It will be held on 25 and 26 August at the Suntec City Convention Centre. I would also like to encourage you to make a note of these dates, and join our CSR community to discuss how we can further the CSR and sustainability agenda in Singapore and the region, for a better future.

I wish you a fruitful year ahead.


Best wishes,

Kwek Leng Joo

1.‘The external assurance of sustainability reporting’ (2013), Global Reporting Initiative
2.‘Corporate Clout 2013: Time for Responsible Capitalism’ (2013), Global Trends
3.Tracing anthropogenic carbon dioxide and methane emissions to fossil fuel and cement producers, 1854 – 2010’ (2014), Heede, Richard, Climatic Change

The Ten Principles of UNGC