The UN Global Compact is a voluntary initiative based on CEO commitments to implement universal sustainability principles and to take steps to support UN goals.
Participants are required to:
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Attain commitment from the chief executive (or equivalent, for non-business entities) – with support from the Board. This commits the organization to meet fundamental responsibilities in four areas: human rights, labour, environment and anti-corruption. All four areas are important; responsible businesses know that good practices in one area do not offset harm in another.
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Produce an annual Communication on Progress (COP) report that outlines its efforts to operate responsibly and support society. This could be part of a sustainability or annual report, or another public document. UN Global Compact posts these communications on their website, and more than 28,000 have been issued by participants to date.