The UN Global Compact has two main objectives:
Companies are encouraged to support 10 principles in the areas of human rights, employee rights, the environment and anti-corruption, and to implement these principles in their internal practices.
Companies are encouraged to undertake voluntary initiatives to promote the UN goal of sustainable development.
Companies can undertake voluntary initiatives internally within their organisation, in their product value chains, or through collaboration with the UN, the general public sector, or voluntary organisations.
The Global Compact enables companies to exchange knowledge and experience with other companies. Over 8,700 companies and organisations around the world currently support the Global Compact.
The ten principles of the UN Global Compact:
The UN Global Compact asks companies to embrace, support and enact, within their sphere of influence, a set of core values in the areas of human rights, labour standards, the environment and anti-corruption:
- 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.
Tvilum is proud to be a member of the UN Global Compact initiative, and publishes an annual report outlining what we have done to fulfil the membership requirements. The latest report is available here