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Signing up for The United National Global Compact (UNGC) commits a company to Ten Guiding Principles on human rights, labor, environment and anti-corruption. It specifically commits the executive leader of an organization and is therefore seen as an important public, top-down commitment to sustainability and better corporate citizenship.

The UN Global Compact is the world’s leading voluntary corporate citizenship initiative and is not a legally binding standard, management system, or code of conduct. As well as being a set of values based on universally accepted principles, the UNGC acts as a network for over 6,000 participating organizations from 135 countries to exchange experiences.

A company signed up to the UNGC is expected to make the UNGC and its principles an integral part of business strategy, day-to-day operations, and organizational culture; incorporate the UNGC and its principles in the decision-making processes of the highest-level governance body (e.g., Board); take actions in support of UN goals and issues, including the Millennium Development Goals and advance the UNGC and the case for responsible business practices through advocacy and active outreach to peers, partners, clients, consumers, and the public at large. In addition, signatories of the UNGC are required to produce an annual Communication on Progress (COP) to communicate to stakeholders how they have implemented the Ten Principles, which are outlined in the table below.

The GRI is the recommended framework for reporting the organizational indicators and metrics for each principle in the COP. The annual COP must include:

The Ten Principles of UNGC

Principles

5. The effective abolition of child labor

6. The elimination of discrimination with respect to employment and occupation

9. Encourage the development and diffusion of environmentally friendly technologies

For more insight into the non-financial reporting frameworks, download our free eBook:

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Cority Software

Cority is the sustainable performance software company, helping customers transform operating risks into a performance advantage. Its flagship platform, CorityOne, merges deep industry expertise with intelligent software so customers can engage their workforce to see and prevent risks that impact people, the environment, and performance. For 40 years, Cority has been the trusted solution for thousands of organizations in operationally complex industries worldwide, including oil and gas, chemicals, food and beverage, utilities, manufacturing, and healthcare.

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