The UN Global Compact has set ten principles for companies to integrate them into strategies, policies and procedures, in a bid to establish a culture of integrity. Corporate sustainability starts with a company’s value system and a principles-based approach to doing business.
This means operating in ways that, at a minimum, meet fundamental responsibilities in the areas of human rights, labour, environment and anti-corruption.
Responsible businesses enact the same values and principles wherever they have a presence, and know that good practices in one area do not offset harm in another.
The Ten Principles of the UN Global Compact are derived from:
- the Universal Declaration of Human Rights,
- the ILO’s Declaration on Fundamental Principles and Rights at Work,
- the Rio Declaration on Environment and Development, and
- the UN Convention Against 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.
By incorporating the Ten Principles of the UN Global Compact into strategies, policies and procedures, and establishing a culture of integrity, companies are not only upholding their basic responsibilities to people and planet, but also setting the stage for long-term success,