- Parent Category: CSR Singapore /
What is the UN Global Compact?
The United Nations Global Compact is a strategic policy initiative for businesses that are committed to aligning their operations and strategies with ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption.
First launched in 2000 with just over 40 business members, the UNGC has grown to over 10,00 members across 130 countries. Companies and organizations are encouraged to sign up to the UN Global Compact to show their commitment to good practice for sustainable business and social success and development. Signatories regularly report on their progress and initiatives in the four areas. COPs, or communications-on-progress, are available by country and by industry on the UNGC website for peer benchmarking and communication, with 63 participants from Singapore as of May 2015.
The benefits of engagement include the following:
- Adopting an established and globally recognized policy framework for the development, implementation, and disclosure of environmental, social, and governance policies and practices.
- Sharing best and emerging practices to advance practical solutions and strategies to common challenges.
- Advancing sustainability solutions in partnership with a range of stakeholders, including UN agencies, governments, civil society, labour, and other non-business interests.
- Linking business units and subsidiaries across the value chain with the Global Compact's Local Networks around the world — many of these in developing and emerging markets.
- Accessing the United Nations' extensive knowledge of and experience with sustainability and development issues.
- Utilizing UN Global Compact management tools and resources, and the opportunity to engage in specialized workstreams in the environmental, social and governance realms.
Answers to frequently asked questions about the UNGC can be found here.
- 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.
- 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.
- 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.
- Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
is the local focal point for the UN Global Compact, and is proud to have members who are signatories to this global policy initiative. We support local signatories through our capacity building activities and events like training workshops, seminars and sharing sessions.
For more details on the UN Global Compact and links to related information, click here.
For a full list of signatories and participants, the searchable database is accessible here.