This week: United Nations Global Compact

United Nations Global Compact

There are some fantastic organisations and individuals who are producing valuable research in sustainable finance. Altiorem summarises and curates this research to assist those who want to build the case for sustainability.

We will showcase these organisations by providing a snapshot of who they are, what they do and any achievements or initiatives they have accomplished relevant to sustainable finance.

This week, the spotlight is on United Nations Global Compact, they were formed to promote the implementation of ten key principles of sustainability to businesses globally, and more recently to support the UN Sustainable Development Goals (SDGs).

First announced by United Nations Secretary-General Kofi Annan and finally launched in New York City on 26 July 2000, United Nations Global Compact (UN Global Compact) is the world’s largest corporate sustainability initiative with 13,000 corporate participants based in over 160 countries. Key stakeholders consist of government groups, business, civil society and labour organisations and related UN global programmes.

UN Global Compact has established six main programmes.

Created to mitigate and address environmental risks, achieved through a systematic strategy that recognises the growing linkages among various environmental issues such as climate, food and water.

Social sustainability is addressed in the social programmes, ensuring that businesses undertake due diligence to avoid and address human rights violations that may be related to their activities.

Supports the economic development of societies including business, government or multilateral institutions through establishing standards of practice and regulatory guidance.

Sustainable Development Goals
In 2015, the UN General Assembly established 17 Sustainable Development Goals (SDGs) as an Agenda for 2030. These goals are universally, with the aim that countries will mobilise efforts to end all forms of poverty, fight inequalities and tackle climate change while ensuring that no one is left behind.

Financial markets
To ensure companies and investors make better investments by proactively managing sustainability risks.

Supply chain
To ensures that a company’s networks are sustainable, meaning free from human rights violations and corruption, upholding fair labour practices and progressing in addressing environmental issues.

They also have an extensive resource library on their website. On altiorem, we are featuring Global Compact resources which include; UN Global Compact Progress Report 2019, UN Global Compact-Accenture Strategy 2019 CEO Study, Business Leadership for 1.5 °C, and Business Leadership Brief for Healthy Planet, Healthy People and that is just the beginning!

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