As such, we do not collect any fees for core funding. The Global Compact is a voluntary initiative, not a formal membership organization. Are there any financial obligations in becoming a Global Compact participant? The Global Compact offers a policy framework for organizing and developing corporate sustainability strategies while offering a platform to encourage innovative initiatives and partnerships with civil society, governments and other stakeholders.ħ.
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Why should a company that has already established its own code of conduct participate in the Global Compact? The Global Compact helps to establish the business case for human rights, labour standards, environmental stewardship and the fight against corruption.Ħ. Is the Global Compact a substitute for existing regulatory approaches?Ībsolutely not. The Global Compact is a purely voluntary initiative designed to stimulate change and to promote good corporate citizenship and encourage innovative solutions and partnerships.ĥ.
Non-business participants are also encouraged to commit their organization to the ten principles and to report on progress made within their organization.Ĥ. How can non-governmental organizations and other non-business participants get involved?Ĭivil society and other non-business organizations can participate through engagement in policy dialogues, learning, Local Networks and Partnership Projects. Remaining in good standing requires communicating the company's progress in implementing the principles, respecting the Policy on the Use of the Global Compact Name and Logos, and a willingness to engage in dialogue under the integrity measures in the event that a matter is raised under those procedures.ģ. of anti-personnel landmines or cluster bombs, companies that are the subject of a UN sanction or that have been blacklisted by UN Procurement for ethical reasons. Properly constituted (under prevailing national law) companies from any industry sector are eligible for participation, except those companies involved in the manufacture, sale etc. Participation in the Global Compact is open to any company that is serious about its commitment to work towards implementation of the Global Compact principles throughout its operations and sphere of influence, and to communicate on its progress.
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More information on how to participate can be found here. Companies have the added opportunity of participating in a number of Global Compact-sponsored initiatives and programs. Failure to provide a COP will result in a non-communicating or inactive status for a participant – a necessary measure to protect the integrity of the initiative. The Communication on Progress (COP) is an important demonstration of a participant’s commitment to the Global Compact and its principles.
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