Learn about the UN’s 10 principles for Global Compact and responsible business practices
What Is the UN Global Compact?
The UN Global Compact was established with the aim of creating a global movement for sustainability in businesses. The Global Compact outlines 10 principles that provide a shared ethical and practical framework that companies can voluntarily commit to in order to join the sustainable journey. These principles are based on four major international conventions and agreements: the OECD Guidelines, the ILO Conventions on Workers’ Rights, the UN Guiding Principles on Business and Human Rights, and the Rio Declaration.
The 10 Principles
When the UN talks about sustainable business management, it operates on multiple levels. The 10 principles cover human rights, labor conditions, environmental, and anti-corruption aspects to ensure accountability toward people and the planet, securing long-term success. By committing to these principles, companies pledge to address these four areas, which also align with the UN’s 17 Sustainable Development Goals (SDGs).
How Can Your Company Work with the 10 Principles?
As a business, you can ask yourself questions that will help determine if you are on this sustainability journey. For example, you might ask if sustainability—understood as climate, social, and governance issues—is embedded in your company’s vision or something your company actively works on. Additionally, you can consider whether you are taking steps to avoid employee discrimination, whether you are thinking about transitioning to green technologies and solutions, whether you are ensuring human rights compliance, and whether you have addressed corruption risks. These considerations should apply not only to your core business but also to the suppliers your company collaborates with.
These are all aspects you need to address when your company answers questions on the Valified platform.
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