New York, NY, Could 31, 2021 (GLOBE NEWSWIRE) — UNITED NATIONS, New York, 1 June 2021— The UN International Compact in the present day launched a brand new instrument to speed up enterprise motion on the governance factor (“G”) in environmental, social, governance (“ESG”).
The “SDG 16 Enterprise Framework: Inspiring Transformational Governance” offers corporations with steerage on strengthening enterprise tradition, ethics and efficiency and supporting public establishments, legal guidelines and techniques. It will likely be mentioned in the course of the UN International Compact Leaders Summit on sixteenth June 2021 in the course of the session“The Highway to Transformational Governance” at 05:15 ET. Aim 16 of the Sustainable Improvement Objectives contains 12 particular targets that promote peaceable and inclusive societies for sustainable improvement, present entry to justice for all and construct efficient, accountable and inclusive establishments.
The SDG 16 Enterprise Framework will assist corporations embrace transformational governance, a principles-based philosophy that calls on enterprise to be extra accountable, moral, inclusive and clear as a driver to accountable enterprise conduct, enhanced ESG efficiency and strengthened public establishments, legal guidelines and techniques.
With the growing overlap and urgency on ESG points, transformational governance is a prism via which companies can develop their understanding of the “G” in ESG. It demonstrates why and the way companies can assess and implement every goal of SDG 16 via inside and exterior actions, together with all through their provide chains.
“The COVID-19 pandemic and converging crises – together with local weather change, financial uncertainty, social inequality and disinformation – have proven that companies don’t function independently of wider society. Companies can and should play their half in selling moral management and constructing belief between private and non-private establishments and civil society. This Framework guides corporations on the journey to transformational governance, shifting past compliance to turn out to be advocates for the rules of peace, justice and robust establishments,” mentioned Sanda Ojiambo, CEO & Govt Director of the UN International Compact.
The SDG 16 Enterprise Framework doesn’t purpose to create new authorized commitments or requirements however to deepen understanding of the position that enterprise can play in advancing these points; strengthen cross-functional engagement; encourage corporations to evaluate the place they’re and to establish alternatives for enhancements; and to include into board and administration oversight, values and tradition, methods, insurance policies, operations and relationships.
It builds on insights from greater than 60 enterprise leaders and consultations in 14 international locations around the globe and displays the Assertion from Enterprise Leaders for Renewed International Cooperation that was signed by greater than 1,300 Chief Govt Officers from corporations in over 100 international locations and delivered to the United Nations Secretary-Basic on the seventy fifth anniversary of the UN. The Assertion demonstrated assist for inclusive multilateralism and the aims of SDG 16. The Framework will type the premise of the UN International Compact’s deal with Transformational Governance as a part of its 2023 Technique.
NOTES TO EDITORS:
Concerning the Motion Platform for Peace, Justice and Robust Establishments (SDG 16)
The SDG 16 Motion Platform was launched in 2018 and includes extremely engaged companies working to implement SDG 16 and to encourage transformational governance. The patrons embrace: Baker McKenzie, L’Oreal, Nestle and individuals embrace: Anglo-American, APCO Worldwide, Enel, Leonardo, Linklaters, LRN Company, Oando, RELX, Safaricom, Sumitomo Chemical, Thomson Reuters, White & Case.
Concerning the United Nations International Compact
As a particular initiative of the UN Secretary-Basic, the United Nations International Compact is a name to corporations in every single place to align their operations and techniques with Ten Rules within the areas of human rights, labour, atmosphere and anti-corruption. Our ambition is to speed up and scale the worldwide collective impression of enterprise by upholding the Ten Rules and delivering the Sustainable Improvement Objectives via accountable corporations and ecosystems that allow change. With greater than 12,000 corporations and three,000 non-business signatories primarily based in over 160 international locations, and 69 Native Networks, the UN International Compact is the world’s largest company sustainability initiative — one International Compact uniting enterprise for a greater world.
For extra info, comply with @globalcompact on social media and go to our web site at unglobalcompact.org.