The UN Global Compact is the only initiative that works with business. The UN says that without business, it is impossible to create something better – a future that the global community will aspire to, with the values of shared development and the principles of the Global Compact in mind.
69% of executives who are Global Compact participants are working with their companies toward sustainability. More than 66 million people are engaged worldwide in the Global Compact, with over 10,000 participating businesses and more than 3,000 community organizations.
It’s an opportunity to communicate more internationally and to show the reputational component, to scale social business and to share experiences.
How to join the Global Compact
A company can join the Global Compact if it adheres to its 10 principles built on human rights, labor, environment and anti-corruption. These are the minimum that allows for sustainable business. After one year, the company shows its progress within these principles, as well as what and how it has done.
Today, the quality of companies that are in the Global Compact is improving at the expense of those who have come into the structure from business. Only those who really understand who they are and what they do remain.
Why the environmental pillar and overcoming inequality are key in “sustainable development
If nothing is done, in a few years we will come to the following: 4 °C warming by the end of the century, 65% of cities and 10% of the world’s population will face problems of rising sea levels, and by 2050, 52% of the entire population will suffer from a lack of water. 40% of farmland is already affected – and eventually we won’t be able to grow anything on the land, and there will be more plastic in the ocean than fish.
More than 10% of the world’s population live below the poverty line, jobs are not paid and child labor is used. Eight people have the same income as 50% of the poorest half of humanity. One-third of people work for $2 a day. The younger population has three times fewer job opportunities. Mass migration: 20 people per minute are displaced.
But a responsible business can affect all of these numbers. Every company-at its own level-can work with its employees and influence the poverty rate. Investing today is important in the agricultural sector, energy, urban development, and health.
How it works
A large company, which has its own ethics and principles, also develops its supply chain, thus developing small companies and the market as a whole. In Europe, a company reports not only on its own indicators, but also on the indicators of those with whom it cooperates. If there are scandals connected with corruption, it affects everyone. If you do not do business honestly, you cannot become a supplier of a large company.