What is the United Nations Global Compact (UNGC)?

About United Nations Global Compact (UNGC):

 

• UNGC is a call to companies everywhere to align their operations and strategies with Ten Principles in the areas of human rights, labour, environment and anti-corruption.
• Launched in 2000, UNGC is the largest corporate sustainability initiative in the world, with more than 15,000 companies and 3,000 non-business signatories based in over 160 countries, and more than 70 Local Networks.
• This UN-led initiative promotes activities that contribute to sustainable development goals to create a better world.
• The Ten Principles of the UN Global Compact:
  • Derived from core United Nations conventions and declarations, the Ten Principles of the UN Global Compact are recognized and endorsed in numerous intergovernmental resolutions and outcome documents, including General Assembly resolutions.
  • Companies that join the compact are expected to integrate these principles into their corporate strategies, culture, and day-to-day operations.
  • Companies are also expected to advocate the principles publicly and communicate with stakeholders on progress toward meeting the principles.
  • Any company that commits to upholding the principles may join the compact, which is not legally binding and is purely voluntary. 
  • The 10 principles for businesses, as stated on the UN Global Compact’s website, are the following:
  • 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. 
  • 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. 
  • 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. 
  • Anti-Corruption:
    • Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.

 

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Q1) What are Sustainable Development Goals (SDGs)?

Set forward by the United Nations (UN) in 2015, the Sustainable Development Goals (SDG) are a collection of 17 global goals aimed at improving the planet and the quality of human life around the world by the year 2030.

Source: Nord Security joins the United Nations Global Compact