The Ten Principles of the United Nations Global Compact, define a principles-based approach to doing business, which means doing business in a way that, at a minimum, meet fundamental responsibilities in the areas of human rights, labour, environment and anti-corruption. Becoming a signatory of the UNGC commits a business to incorporating the Ten Principles of the UN Global Compact into strategies, policies and procedures to establish a culture of integrity, knowing that good practices in one area do not offset harm in another. This is with the intention of upholding both basic responsibilities to people and the planet, and for setting the stage for long-term success.
- The Ten Principles of the United Nations Global Compact are designed to help businesses to act responsibly while also making the biggest possible impact on delivery of the UN 2030 Agenda. One of the most significant contributions that a business can make to sustainable development is to make the Ten Principles of the UN Global Compact an integral part of business strategy, day to day operations and organisational culture. Companies that participate in the UN Global Compact make a CEO-level commitment to embed these ten universal principles into all business operations and report annually on their progress.
- The Ten Principles cover human rights, labour, environment and anti-corruption, and are derived from key United Nations Declarations and Conventions, providing a common ethical and practical framework for corporate responsibility. There is significant benefit to companies that commit to, and report on the Ten Principles. They provide a universal language for corporate responsibility that is understood and interpreted by thousands of companies in more than 160 countries around the world, regardless of size, complexity, or location.
- A principles-based company is about more than compliance. By embedding 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, they are also setting the stage for long-term success. The Ten Principles provide common ground for partners, a moral code for employees, an accountability measure, and ultimately are the foundation for building trust with all stakeholders, across the board.
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.