For the International Year for the Elimination of Child Labour, UN Global Compact Network USA and UN Global Compact Network UK are launching a Child Labour Webinar Series, an interactive series of digital events over the course of June - November 2021. Both Networks will raise awareness on the importance of the eradication of child labour and inspire action in this space. The series will bring business representatives and child rights practitioners together with UN agencies, academia, and civil society to discuss the challenges on the ground as well as share best practices to address child labour. As part of the series, the following webinars will take place:
Introduction to Child Labour in Global Supply Chains (June 9 at 10:45 am - 12:00 pm EDT)
Nearly 1 in 10 children worldwide are subjected to child labour. What is child labour and why should companies be concerned about it? This webinar will introduce the issue of child labour in supply chains and highlight key stakeholders’ actions in this space.
Exploring How the Informal Sector Feeds into Formal Supply Chains (June 29 at 10:45 am -12:00 pm EDT)
The informal economy -both urban and rural- is where the vast majority of child labour occurs. Child labour is most widespread in informal work in agriculture. It is also an important issue in other sectors, including artisanal mining, brick kilns, manufacturing, street work, and domestic work. This webinar will explore how child labour in the informal economy feeds into the formal supply chains of companies.
Child Labour in the Apparel Sector (September 29 at 10:45 am - 12:00 pm EDT)
Over the last few decades, the fashion industry has changed considerably. The ‘fast fashion’ model has had a deteriorating effect on working conditions. Low wages, forced labour, unhealthy and dangerous working conditions and child labour are widespread throughout the garment supply chain. This webinar will discuss challenges and examine practical actions business can take to address child labour in the apparel sector.
Child Labour in the Agriculture Sector (October 19 at 10:45 am - 12:00 pm EDT)
The informal nature of the agriculture sector and its demand for cheap and low-skilled labour explains the high incidence of child labour in this sector. ILO data suggests that nearly 60% of all child labourers work in agriculture. This webinar will discuss the challenges and examine practical actions business can take to address child labour within the sector.
Child Labour in the Extractive Sector (November 17 at 9:45 am - 11:00 am EST)
Over one million children worldwide are engaged in child labour, specifically in mines and quarries. Under the ILO definition, mining and quarrying is considered hazardous work and therefore one of the worst forms of child labour. The minerals and materials being sourced enter the supply chain of other industries, most notably that of the technology sector. This webinar will explore the challenges and examine practical actions business can take to address child labour within these sectors
The U.S. Securities and Exchange Commission (SEC) is responding to demand for climate change information and questions about whether current disclosures adequately inform investors. They are currently requesting public input from investors, registrants, and other market participants on climate change disclosure.
UN Global Compact Network USA and the Principles for Responsible Investment (PRI) will deliver a series of webinars in May on this request for public input.
SEC Climate Disclosure: How Investors Can Get Involved (May 5, 11:00 am EDT)
This webinar will provide an overview of the US Securities and Exchange Commission’s request for information by market participants on climate disclosure.
Samantha Ross, Founder of AssuranceMark, The Investors’ Consortium for Assurance, and Degas Wright, CEO, Decatur Capital Management, will lead a discussion on topics such as materiality, scenario analysis, CSR reports and assurance (GHG emissions), physical and transition risks, the role of auditors, and critical price assumptions.
The webinar will also have a Q&A session and introduce ways that investors can get involved.
Registration can be found here.
SEC Climate Disclosure: How Companies Can Get Involved (May 11, 12:00 pm EDT)
This webinar will provide an overview of the new US Securities and Exchange Commission’s request for information by market participants on climate disclosure. The PRI will discuss the SEC’s history on climate change disclosure and recent developments on the matter. There will be a Q&A session to answer any questions by companies participating in the UN Global Compact.
Registration can be found here.
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UN Global Compact Network USA seeks comments from Network participants on the following candidates to serve as board members for the organization. These comments will inform the board's final decision.
Candidates presented to participants for comment at this time include Shobha Meera, Chief CSR Officer, Capgemini, and Joe Cahill, Chief Customer Officer, Project Management Institute.
Please send any comments to info@globalcompactusa.org with subject line 'Board Comments' by Friday, May 7 COB.
About Shobha Meera
As the Chief CSR Officer for the Capgemini Group, Shobha drives the strategy for the company's corporate social responsibility mandate which constitutes 3 pillars: Diversity & Inclusion, Digital Inclusion, and Environmental Sustainability. Working alongside Capgemini's global CSR network and 270,000+ colleagues who are passionate about the health of the planet & society, Shobha is committed to achieving the company's ambition for Capgemini to be a global CSR leader. For most of her career, she has been a business & sales leader with extensive experience in sales management & transformation, most recently in the Financial Services space.
LinkedIn
Location: New York, NY
Capgemini
About Joe Cahill
As Chief Customer Officer (CCO), Joe Cahill is responsible for the Project Management Institute's Global Customer Group. He oversees the Global Customer Engagement Team, the Global Customer Experience Team, and the Project Management Institute's eight geographic regions. Joe previously held the positions of COO, Interim CEO and SVP of Finance and Administration in his time with the Project Management Institute.
Joe has over 20 years of senior leadership experience including digital transformation, strategic planning, enterprise system implementation, and new business development. Across technology, manufacturing, and energy sectors, he has effectively helped build companies and lead change in large organizations. Prior to joining the Project Management Institute, Joe served as Chief Financial Officer for Priton, UgMO Technologies, and Gamesa Technology Corporation, and served as Finance Director for Unisys Corporation.
LinkedIn
Location: Blue Bell, PA
PMI
The Local Perspectives on SDG Ambition event is an important component of the SDG Ambition program for US companies and additionally will be open to all Network USA participating companies and others. The event will explore how the UN, the US government, and the American private sector can collaborate and partner to achieve the SDGs by 2030.
In addition to the senior UN engagement, this event represents an important new collaboration with the US State Department and will be the first time the new US administration will provide public remarks on the SDGs.
We are very pleased to announce our speakers:
You can register to attend the virtual event here.
As we mark the International Day for the Elimination of Racial Discrimination on Sunday 21 March, we are reminded by the horrific acts of violence against the Asian community in the United States this week that racism is an every day occurrence in almost every country and every city.
It is important that we recognize that these intolerable acts of hate have resulted from xenophobia, misinformation and unchallenged stereotypes.
Globally, the COVID-19 pandemic has further exposed social and economic inequalities rooted in racism and discrimination.
As the UN Secretary-General has stated this week: “Wherever we see racism, we must condemn it without reservation, without hesitation, and without qualification.”
I will be speaking on behalf of the UN Global Compact at the Anti-Racism Day Live Global Digital Experience this Sunday to call out these intolerable acts of violence and urge business leaders everywhere to use their influence to root out systemic racism.
The Global Compact stands in solidarity with all those facing injustice and there are specific, concrete anti-racist actions businesses must take without delay. Statements and policies also have to be backed by action, investments and opportunities to address racial imbalances.
We must hold ourselves accountable as well. We continue to have work to do as an organization to live up to the values and principles we represent. Our Global Compact family is representative of many perspectives and backgrounds. During this time, it is important for us to listen, acknowledge and stand with our colleagues who have been experiencing the repercussions of these senseless acts of violence and prejudice.
Our ambition to create the world we want, must be a world based on inclusivity and sustainability. This requires us to acknowledge and speak out against racism in all its forms.
As the Secretary-General told UN member states today at a meeting to mark the International Day for the Elimination of Racial Discrimination on 21 March: “Racism is a deeply rooted evil. It transcends generations and contaminates societies. It perpetuates inequality, oppression and marginalization. Our duty, as responsible global citizens, is to eradicate it.”
Global Compact Network USA is very pleased to be launching a virtual forum on Givitas, a collaboration and networking tool to be provided for free to our participating companies and organizations.
Givitas is designed to make it fast and easy for you to ask for help from and to offer help and advice to others on topics related to corporate sustainability and implementing the Ten Principles and the SDGs. In today's virtual environment, there is less opportunity for the informal giving and receiving of help between peers that occurs at our networking events. The Network is pleased to offer this additional resource to help companies learn from each other on best practices and general guidance. Anyone from a Global Compact Network USA participating organization can sign up for free using their company’s email address here: https://globalcompactusa.givitas.com.
Global Compact Network USA hosted a webinar on March 2 for members to learn more about this new tool. A recording of the event can be found here.
The United Nations Global Compact will host TARGET GENDER EQUALITY LIVE on March 16, 2021. The event will convene leaders from business, government, civil society and academia to discuss and demonstrate how the private sector can help bring down barriers to gender equality by respecting and supporting the rights of women and girls.
Convened during the 65th Commission on the Status of Women, this interactive and global event seeks to inspire and engage business and other stakeholders to take concrete action to advance gender equality.
Building on the UN Global Compact Leaders Summit and Uniting Business LIVE virtual event forums, which attracted thousands of attendees from every corner of the world, Target Gender Equality LIVE will be a completely virtual and innovative event experience. It will showcase the work of Global Compact Local Networks and partner organizations, featuring a dynamic mix of live plenaries, on-demand programming, global networking and practical tools and resources.
You can register for the event here. Kindly note that registration is complimentary for all employees of UN Global Compact Participant and Signatory companies and non-business stakeholders as well as UN partners and affiliates. For questions about registration, please email tgelive@unglobalcompact.org.
Global Compact Network USA is pleased to introduce you to its current Board of Directors for the calendar year 2021. The Board of Directors is composed of sustainability leaders employed by United Nations Global Compact signatory organizations.
Members are welcome to submit questions or comments concerning the 2021 Global Compact Network USA Board of Directors to info@globalcompactusa.org by March 15, 2021.
As global leaders gather for the UN’s Climate Adaptation Summit on climate resilience, new data published by the Science Based Targets initiative (SBTi) shows that companies with science-based targets are delivering on large-scale emissions reductions. Target-setting companies have successfully reduced their emissions by 25% since 2015, a difference of 302 million tonnes of CO2 equivalent, the same as the annual emissions from 78 coal-fired power plants.
Five years on from the Paris Agreement, the SBTi analysed the emissions of a group of 338 companies whose climate targets have been approved by the SBTi as aligned with climate science and the goals of the Paris Agreement. This is the first ever study to look at how setting science-based targets correlates with corporate emissions reductions and the extent to which companies are actually delivering on those targets.
SBTi finds that the typical company with SBTs actually slashed direct (scope 1 and 2) emissions at a linear annual rate (6.4%) that exceeds the rate required under the SBTi’s criteria to meet 1.5°C-aligned warming scenarios (4.2%). This shows companies with SBTs are taking climate action at rates that not only meet, but are faster than, the pace of action required by the Paris Agreement. These figures compare to an average increase of around 0.85% per year in global emissions for energy and industrial processes over the same period (see Fig.1 graph below).
New research from the SBTi today suggests that the planned emissions savings of companies with science-based targets are also set to generate US$25.9 billion of new investment into climate mitigation initiatives in the next decade.
The United Nations Global Compact announced a new pledge today aimed at mobilizing its over 12,000 business participants to renew and expand their efforts towards eradicating child labour and forced labour. UN Global Compact CEO and Executive Director Sanda Ojiambo made the announcement at an event on ending child labour convened by the International Labour Organization (ILO), saying, “We will work with all our participants this year to step up their due diligence on human rights. To identify, prevent, mitigate and account for all adverse human rights impacts in their operations and value chains, which will help tackle child labour and forced labour. Making a real impact will require adopting a holistic approach and collaborating with all stakeholders.”
This new pledge builds upon the existing commitment by businesses participating in the UN Global Compact. Companies begin their participation by signing up at the CEO-level to embed the initiative’s Ten Principles in the areas of human rights, labour, environment and anti-corruption into business strategies and operations, and commit to reporting annually on their progress. Specifically, Principles 4 and 5 call upon business to work towards “the elimination of all forms of forced and compulsory labour” and “the effective abolition of child labour.”
2021 has been declared by the UN General Assembly as the International Year for the Elimination of Child Labour. With 152 million children aged 5 to 17 subject to child labour globally — and nearly half (72.5 million) engaged in hazardous forms of labour — the COVID-19 pandemic has only exacerbated conditions for the world’s most vulnerable children and put millions more at risk. The combined product of many factors (including social norms, lack of decent work opportunities for adults and adolescents, migration and emergencies), child labour is largely a result of poverty. According to a recent report from the ILO and UNICEF, a single percentage point rise in poverty could lead to a 0.7 percentage point or greater increase in child labour.
According to Ms. Ojiambo, the pledge announced today was created not only in response to the International Year, but also as ending child labour and all forms of forced and compulsory labour is integral to the Ten Principles of the UN Global Compact. Though important progress from the business community has been made, a recent survey of participating companies demonstrates most have not yet moved beyond policy commitments to end child labour and forced labour.
The gap between business aspiration and business action on these critical issues compelled the UN Global Compact to make the eradication of child labour and forced labour a priority this year, said Ms. Ojiambo. She emphasized during the event that the UN Global Compact will step up efforts to help end the scourge of child labour and forced labour through activating its global participant base and through regular engagement with stakeholders. A holistic approach involving all relevant actors — Governments, employers’ and workers’ organizations, businesses and civil society — is needed to tackle the diverse causes of child labour and forced labour, said Ms. Ojiambo.
Ms. Ojiambo also announced plans to organize a private sector event on child labour and forced labour in partnership with ILO during the UN Global Compact Leaders Summit in June this year. CEOs of businesses who have taken concrete actions to step up efforts towards eradicating child labour and forced labour will be invited to share their learnings, which could inspire more companies in translating business aspirations into business actions.
Global Compact Network USA is pleased to share the new UN Global Compact strategy which was announced to the UN Global Compact Board today by Board Chair, UN Secretary-General António Guterres.
The new three-year strategy spells out our ambition to accelerate and scale the global collective impact of business by upholding the Ten Principles and delivering the SDGs through accountable companies and ecosystems that enable change.
Our Ten Principles on human rights, labour, the environment and anti-corruption offer a blueprint for businesses seeking to build back stronger from the COVID-19 pandemic, drive SDG ambition and implement the Paris Agreement on climate change.
The strategy explains how we will contribute, how we will catalyze impact, and how we, as One Global Compact will move forward together to realize five strategic shifts to enable meaningful new strides in the current global, environmental, and social context:
The development of our new strategy has involved a broad-based engagement effort with more than 2,000 stakeholders across UN Global Compact and in the broader sustainability ecosystem. More than 450 people were directly engaged through interviews and focus groups. I am grateful to everyone who contributed.
We are also indebted to the UN Secretary-General and Deputy Secretary General, Board Members of UN Global Compact and the Foundation for the Global Compact, and the Global Compact Global Network Council for their active engagement, direction, and support in building consensus on the strategic directions set forth in this document.
As we begin our 21st year of operations, we can all feel optimistic about UN Global Compact’s capability to use this unique moment and elevate our ambition, to heighten and seize the urgency to act, and to accelerate and scale global collective impact by upholding the Ten Principles and delivering on the SDGs through accountable companies and ecosystems that enable positive change.
Our strategy will bring to UN Global Compact more differentiation and growth through an embrace of our unique roles, delivery through a focus on impact, and discipline through selectivity in what we do.
Together, we will be One Global Compact uniting business for a better world.
In our search for our second annual USA SDG Pioneer, Global Compact Network USA received many impressive nominations from our participating companies and undertook a rigorous process of reviewing applications. This included an internal and external review process to best identify business leaders who are championing the Sustainable Development Goals (SDGs) through their company, as well as inspiring others to advance the 2030 Agenda for Sustainable Development. Our external reviewers made the final selection and included illustrious representatives from the Global Compact Network USA Board of Directors, the UN, academia, and civil society.
Global Compact Network USA recognizes the contribution of our external reviewers in identifying our SDG Pioneer and is grateful for their support of the Network and the SDGs.
Global Compact Network USA 2020 SDG Pioneer External Reviewers:
In our search for our second annual USA SDG Pioneer, Global Compact Network USA received many impressive nominations from our participating companies. In addition to recognizing our SDG Pioneer, Sonay Aykan of Colgate-Palmolive Company, we are additionally pleased to recognize the finalists identified in our SDG Pioneer search. These finalists are recognized as business leaders who are championing the Sustainable Development Goals (SDGs) through their company, as well as inspiring others to advance the 2030 Agenda for Sustainable Development.
2020 Global Compact Network USA SDG Pioneer Finalists:
Congratulations to our 2020 SDG Pioneer finalists!
Global Compact Network USA is pleased to recognize its second annual USA SDG Pioneer — a business leader who is championing the Sustainable Development Goals (SDGs) through their company, as well as inspiring others to advance the 2030 Agenda for Sustainable Development.
Chosen from a number of highly impressive nominations, the Network is proud to recognize Sonay Aykan, Senior Associate Manager, Global Sustainability, Colgate-Palmolive, as its 2020 SDG Pioneer.
“I am honored to accept this recognition as an approval and encouragement for Colgate’s work to reimagine a healthier future for all people, their pets and our planet. UN Sustainable Development Goals play a key role in aligning business objectives with global sustainability priorities and I am proud to see that Colgate’s efforts to drive social impact and preserve our environment through our products is helping achieve these ambitions.” - Sonay Aykan.
Aykan collaborates with subject matter experts across Colgate-Palmolive to embed the UN Sustainable Development Goals into business decisions through different projects. These projects include the implementation of a materiality assessment process which took UN SDGs as its basis and creating awareness among Colgate employees about basic sustainability concepts, aligned to the SDGs. In 2020, his efforts to further engage with suppliers to reduce Colgate’s environmental impacts from purchased goods and services culminated with a project which will create crucial emission and water data from suppliers. The project also educates suppliers on emission and water reduction strategies, helping achieve SDGs 6, 7, 13, and 15. In 2019-2020, Aykan also served as a mentor for Colgate’s Young SDG Innovators Program (YSIP) participants, helping mobilize young talent from different functions focusing on how to embed UN SDGs into the company’s product design phases. One of the key projects he initiated was to integrate climate-related risks into business strategy through scenario analysis in collaboration with the finance and risk teams.
“We are very pleased to recognize Sonay Aykan as Network USA’s second SDG Pioneer for his leadership at Colgate-Palmolive to address some of the world’s most pressing challenges,” says Adam Roy Gordon, Engagement Director of Global Compact Network USA. “Next-generation leadership, such as his, is necessary for us to achieve the ambition of the SDGs and create the world we want.”
As the winner of the national round, Aykan will be Network USA’s nomination to be recognized at the global level as a 2020 UN Global Compact SDG Pioneer. The global winners will be recognized at the Leaders Summit in Summer 2021.
About the SDG Pioneers Program
As a special initiative of the UN Secretary-General, the United Nations Global Compact works with companies everywhere to align their operations and strategies with ten universal principles in the areas of human rights, labor, environment and anti-corruption. Launched in 2000, the UN Global Compact guides and supports the global business community in advancing UN goals and values through responsible corporate practices. With more than 9,500 companies and 3,000 non-business signatories based in over 160 countries, and 70 Local Networks, it is the largest corporate sustainability initiative in the world.
This new report from UNICEF and the UN Global Compact guides employers in implementing family-friendly policies that support parents and caregivers in their own operations and using their influence and leverage to promote such policies among business partners and within their supply chains.
Conditions of employment not only have a significant impact on the well-being of workers but also their children and families. Yet, for the hundreds of millions of workers in global supply chains, basic entitlements that provide them with the time, services and resources to support their families are widely absent.
The large-scale business disruptions and the socioeconomic crisis resulting from COVID-19 have exacerbated the situation. Now, more than ever, family-friendly policies and practices are needed to support workers and their families during the crisis and beyond.
Be a part of the UN Global Compact participant company staff activation this UN Day
We need all 100,000,000 of you to help make social media history on United Nations Day 24 October!
This year the United Nations celebrates its 75th anniversary, and the Global Compact its 20th.
We want you to help us celebrate both milestones by adding your voice to support global sustainability.
UN Day is on 24 October. The UN Global Compact will mark UN Day by asking you to take part in a simple social media activation on 24 October: add your photo to one of our photo filters that carry the key words from the UN Charter and share with your friends on your social media platforms using the hashtag #UnitingBusiness.
Main campaign link (English):
https://globalcompact.un75.online/
French:
https://globalcompact.un75.online/v1
Spanish:
https://globalcompact.un75.online/v2
Arabic:
https://globalcompact.un75.online/v3
Russian:
https://globalcompact.un75.online/v4
Chinese:
https://globalcompact.un75.online/v5
Join your 100 million co-staffers across the UN Global Compact network!
Here is a UN Day Toolkit with simple ways you can learn about sustainability and the UN in the run-up to UN Day on the 24th:
Check back for more information about the social media activation on UN Day.
Please share any questions you may have about the toolkit. We’re looking forward to working with you! unday@unglobalcompact.org.
The private sector plays a key role in tackling gender-based violence in the world of work. Within this context, this guidance note focuses on preventing and addressing harassment in the workplace.
This guidance note forms part of a toolkit to guide gender-responsive business conduct in the private sector in line with the Women’s Empowerment Principles (WEPs) and ILO international labour standards. It focuses on the following key areas:
The UN Human Rights Office and the UN Working Group on Business and Human Rights, have joined the United Nations Global Compact in calling for businesses across the value chain to act and assess the human rights situation facing seafarers during the COVID-19 pandemic. 800,000 seafarers are currently either stranded on vessels or prevented from returning to ships due to COVID-19 restrictions on travel and transit.
Under the UN Guiding Principles on Business and Human Rights, all business enterprises should respect human rights throughout their operations, including during the transfer of goods in their supply chains. Accounting for almost 90 percent of world trade, thousands of business enterprises use the services of maritime freight transport. The pandemic has impacted seafarer and other marine personnel’s basic human rights, including the right to physical and mental health, the right to freedom of movement and the right to family life. With many seafarers stuck on board ships well beyond the 11 months maximum mandated by international labor standards, security and environmental hazards risk increasing.
In a joint statement, Michelle Bachelet, UN High Commissioner for Human Rights, Sanda Ojiambo, CEO and Executive Director of the United Nations Global Compact and Anita Ramasastry, Chairperson of the UN Working Group on Business and Human Rights, call upon all relevant business enterprises to:
Sanda Ojiambo, CEO and Executive Director of the UN Global Compact, the world’s largest corporate sustainability initiative, commenting on the call to action said: “In the context of this pandemic, the responsibility to respect, protect and stand up for seafarers’ rights extends far beyond shipping companies. The vast majority of companies, from multinationals to global brands, rely on maritime transport and seafarers to keep their supply chains moving. It’s time to show they stand with the seafarers and urge governments to find a political solution”.
The High Commissioner for Human Rights, Michele Bachelet, said: “The situation of seafarers worldwide is a hidden but acute humanitarian crisis. It is affecting the basic human rights of hundreds of thousands of people, including their rights to physical and mental health, to family life, and to freedom of movement. Behind the dry statistics, there are countless individual stories of human suffering that require a prompt response from governments. Businesses enterprises also can -- and should --play a role.”
Anita Ramasastry, Chair of the UN Working Group of Business and Human Rights, said: “The desperate predicament in which seafarers find themselves during the COVID-19 crisis is a human rights emergency affecting a vast number of people and implicating countless business enterprises that must help to resolve the situation. The Guiding Principles on Business and Human Rights provide the globally recognized and authoritative framework for State duties and business responsibilities in preventing and addressing such adverse business-related human rights impacts. Urgent steps need to be taken to get these seafarers home, using the Guiding Principles as a key tool.”
While several shipping companies, including Maersk, have called for action, a number of non-shipping related businesses are increasingly stepping up, expressing strong concern for the ongoing forced labor in their supply chains. Last week, 30 major consumer goods forum companies, including Unilever and Danone, wrote to the Secretary-General to express their urgent concern. CEOs from ten of the world’s largest seafood companies also called for urgent government action in a statement released last week.
Last week, at an event convened by the UN Global Compact and UN partners on the margins of the General Assembly, the UN Secretary-General, Antonio Guterres, reiterated seafarers’ essential role in the “often invisible global logistics chain”. He repeated calls to governments, alongside leaders from business, the UN, and unions, to deem them “key workers” and facilitate their transfer.
The UN Global Compact CFO Taskforce today launched the first integrated, UN-backed principles for integrated SDG Finance and Investment. The principles seek to guide companies in aligning their sustainability commitments with credible corporate finance strategies to create real-world impact on the Sustainable Development Goals (SDGs).
Released on the sidelines of the historic 75th session of the UN General Assembly, 34 Chief Financial Officers and C-suite Executives – members of the UN Global Compact’s CFO Taskforce – pin pointed four key areas that are relatively underserved but critical for SDG-aligned investments: SDG impact and measurement, integrated SDG strategies and investments, integrated corporate SDG Finance and integrated SDG communication and reporting. The goal is to work with the investment value chain, including investors, banks, development finance institutions, credit ratings agencies and sustainability assessment firms to create a broad, liquid and efficient market for SDG investments and capital flows.
As custodians of over $14 trillion a year in corporate investment, CFOs can be a driving force for the achievement of the SDGs. With growing interest in sustainable and responsible investment worldwide, it is increasingly crucial for CFOs to help their companies shape credible, SDG-aligned corporate sustainability strategies.
“The Principles for SDG-aligned Corporate Finance enable the broader finance ecosystem to scale up financing and investments towards the SDGs to ensure that we leave no-one behind. This is the right and opportune thing to do as the long term success of business is inextricably linked to a sustainable future for all,” said Sanda Ojiambo, CEO and Executive Director of the UN Global Compact.
"Understanding how issuers contribute to the SDGs is a fundamental part of PIMCO’s sustainable investment and engagement strategy,” said Scott Mather, Chief Investment Officer, PIMCO U.S. Core Strategies, and Co-Chair of the CFO Taskforce. “These Principles provide the first integrated, UN-backed framework for companies to incorporate the SDGs in their financial strategy and operations. We hope this will encourage even more issuers to embed sustainability at the core of their business and create new opportunities for SDG investment."
“CFOs play a leading role in establishing clear indications and setting best practices for making corporate finance and investments a real driver of social growth. As members of the CFO Taskforce, we are all committed to working at the service of a new stakeholder capitalism, creating sustainable value for people and the planet,” said Alberto De Paoli, CFO of Enel, and co-chair of the CFO Taskforce. "The UNGC CFO Principles for Integrated SDG Investments and Finance represent a solid first step to guide companies in the adoption of credible finance strategies that fully integrate sustainability towards the achievement of SDGs.”
Developed by members of the CFO Taskforce and in consultation with key institutional partners, the principles are intended to build upon and supplement the overarching Ten Principles of the UN Global Compact on human rights, labor, environment and anti-corruption.
With the launch of the principles, representatives of the CFO Taskforce call on investors, companies, banks, governments, and other market participants to work together towards a sustainable financial system that drives investment into the SDGs. The principles will be supported by implementation guidance, case studies, and working groups to help companies set ambitious targets to accelerate the transition of corporate finance and investments to sustainable development.
The CFO Principles on Integrated SDG Investment and Finance are available for download here.
Following the huge explosions in Beirut earlier this month, the United Nations Global Compact, Connecting Business Initiative and the UN Office for the Coordination of Humanitarian Affairs (OCHA), are calling on the private sector to support relief and recovery efforts.
To ensure that efforts to create a safer Beirut are coherent and sustainable for all those affected by the August 4 Beirut Port explosions, the United Nations Global Compact and partners have created a blueprint for sustainable business responses.
The Business Guide calls for companies operating in Lebanon and worldwide to use strategies and operations grounded in universal principles on human rights, labour, environment, and anti-corruption. The keys for the business response to Beirut’s tragedy are cash donations to relief operations in Beirut, in-kind goods or services, and the contribution of long-term technical expertise, infrastructure (re)-development programs, and economic investment.
Almost two weeks after the Beirut Port explosions, 180 people are dead, more than 6,000 people are estimated to be injured, and at least a dozen people remain missing, according to OCHA. The impact of the disaster runs deep. Recovery efforts will require a long-term, sustained commitment.
If your company’s offer for the Beirut efforts is commercial in nature, please refer to the UN Global Marketplace www.ungm.org for more information.
Business contributions to UN response efforts must comply with the Guidelines on Cooperation between the UN and the Business Sector www.business.un.org/en/documents/guidelines
Every organization is facing extraordinary challenges due to the COVID-19 pandemic. With so much uncertainty comes competitive pressure that radiates through global supply chains and increases pressure on suppliers. For the most vulnerable, this stress can lead to increased labour rights violations and heightened risks for workers who are already exploited.
To combat the potential for these abuses, the UN Global Compact has developed anew leadership brief, Navigating Decent Work Challenges in Multi-Tiered Supply Chains. In it, you’ll discover proactive measures your organization can take to advance decent work throughout your global supply chain—even amidst a global pandemic.
The leadership brief examines how companies can navigate complex multi-tiered supply chains and their associated challenges as part of their efforts to advance decent work in their global supply chains. While multi-tier supply chains have the advantage of driving efficiency, reducing planning cycle lead times and reducing possible business disruptions, they also increase the risk of causing or contributing to human rights impacts and decent work deficits, particularly in the lower tiers of the chain. This is exacerbated in a crisis situation such as a pandemic, where workers’ rights and conditions may be compromised and income threatened as a result of order cancellations, factory shut-downs, or layoffs.
This report seeks to guide multinational enterprises in reducing global supply chain vulnerabilities and provides proactive measures companies can take and best practice examples to draw inspiration from.
The 75th anniversary of the United Nations comes at a time of unprecedented disruption and global transformation, serving as a stark reminder that international cooperation must be mobilized across borders, sectors and generations to adapt to changing circumstances.
Over time, the UN has sought to unite stakeholders everywhere to tackle the world’s greatest challenges. Yet our multilateral system is being threatened by those who want to go it alone rather than work together. In the spirit of renewed global cooperation, public and private institutions need to show they are accountable, ethical, inclusive and transparent.
The United Nations Global Compact is calling on our network of thousands of companies to demonstrate support for inclusive multilateralism by signing on to a Statement from Business Leaders for Renewed Global Cooperation (“Statement”).
To indicate your CEO’s support, please fill out the online form no later than 14 September 2020.
The Statement — including the full list of CEO supporters — will be presented to the UN Secretary-General during the UN Private Sector Forum on Monday 21 September as part of the official UN75 commemorations.
As a responsible business leader engaging with the UN through your participation in the UN Global Compact, I sincerely hope you will join us in raising your voice to ensure we steer our world onto a more equitable, inclusive and sustainable path. We are in this together — and we are united in the business of a better world.
As the world’s largest corporate sustainability initiative, the United Nations Global Compact is calling on business leaders everywhere to unite to support workers, communities and companies affected by the COVID-19 pandemic, and providing guidance and support to companies everywhere.
A coordinated international plan involving the business sector will be critical in efforts to support people and companies affected, limit further disruption to the economy and facilitate business continuity for a swift recovery.
To help companies navigate the sustainability challenges magnified by COVID-19, the UN Global Compact has compiled a series of COVID-19 issue area briefs that detail the impact of the pandemic on a range of sustainability issue areas including gender equality, ocean, water stewardship, climate, decent work, sustainable finance, human rights and anti-corruption. Each brief includes a variety of resources to help companies build back better and recover stronger.
The UN Global Compact invites CEOs from participating companies to record and submit a video sharing what your company is doing as part of its response, recovery and resilience efforts in light of COVID-19. We invite you to share your ideas, advice and experience with our global community of more than 10,000 businesses and 68 Local Networks. Only by #UnitingBusiness and supporting each other will be able to get through this crisis.
LEARN HOW CEOS ARE TAKING ACTION
Launched in 2000 by former UN Secretary-General Kofi Annan, the UN Global Compact was initiated to bring business and the United Nations together to give a human face to the global market.
When businesses unite, they can be a powerful force for good by upholding universal principles in the areas of human rights, labour, the environment and anti-corruption.
Important progress has been made, but from runaway climate change to widening inequalities, our actions do not currently match the ambition and pace necessary to achieve the Sustainable Development Goals by 2030. All stakeholders must unite to transform our collective aspiration into reality.
Through our Local Networks and over 10,000 companies around the world, the UN Global Compact is taking corporate sustainability from the fringes to the mainstream and uniting business for a better world.
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Interested in joining the movement? Take the next step and join the UN Global Compact, and register to attend the UN Global Compact Leaders Summit 2020.
