Global Compact International Yearbook 2015

Clear MessaGE from tHE UN GENEral Assembly:
More Support from BUSINESSES Is
NEEded to Achieve a Better World
During the United Nations Global Compact’s 15th anniversary
event, global business leaders met with governments in the
historic UN General Assembly Hall to demonstrate the growing,
strategic role that the private sector plays in solving our
world’s greatest challenges.
UN General Assembly President Sam Kutesa and UN Secretary-
General Ban Ki-moon welcomed more than 1,000 people,
including the world’s top CEOs and high-level government
representatives to the UN. Their aim was to review progress
made through the global corporate sustainability movement
and show the potential for responsible business to help advance
sustainable development moving forward.
With the United Nations launching global Sustainable Development
Goals (SDGs) in September, corporate leaders shared
how businesses are operating and innovating in ways that
support societal priorities. They also emphasized the need for
governments to enable and incentivize corporate sustainability,
including through putting a price on carbon and calling for
all public procurement to be transparent.
Addressing participants, UN Secretary-General Ban Ki-moon
noted the growing role of business in advancing United Nations’
objectives, stating that “by respecting and supporting universal
principles in operations, and by pioneering new business models
and forming innovative partnerships, enlightened business
leaders are poised to make long-lasting contributions to the
cause of global sustainability.” While marking the important
progress that has been made, the Secretary-General underscored
that serious challenges remain for billions of people and our
planet. He urged more companies to pick up the pace and
deepen their commitment to sustainability.
Summing up the UN General Assembly session and the week’s
events, Georg Kell, Executive Director of the UN Global Compact,
stated, “Businesses around the world are awakening to
their role in society and have started making important strides
to operate more responsibly and innovate for a greener and
more sustainable future. But there is still a long way to go.
We need companies everywhere to step up to the realities of
our time, understanding that healthy societies and healthy
markets go hand-in-hand.”
Following is an overview of notable outcomes:
The Caring for Climate initiative highlighted the business
case and strategies for implementing the Business Leadership
Criteria on Carbon Pricing. The Criteria set a high bar for
companies to commit to three dimensions:
1) integrate carbon pricing into corporate long-term strategies
and investment decisions;
2) publicly advocate the importance of carbon pricing; and
3) communicate their progress over time on the criteria in
public corporate reports.
Since the UN Climate Summit in September 2014, more than
40 companies have committed to align with the criteria, including
major oil and gas, utility, consumer goods, chemical,
and energy companies from all over the world.
The 2nd Annual Business for Peace Event announced collaboration
with the Special Envoy for the Great Lakes region to
host a conference on responsible investment next February
in the Democratic Republic of Congo. Greater collaboration
was explored on education in high-risk areas, as well as opportunities
to engage business in humanitarian response,
particularly in the lead-up to the World Humanitarian Summit
next year. A session was also held on how to measure the
private sector contribution to SDG 16 on peace, inclusion, and
access to justice for all.
Two new governance programs were launched at the Global
Compact’s headquarters in July 2015 pushing corporate responsibility
further into the purview of the legal profession,
and highlighting the role of in-house lawyers in driving their
companies’ sustainability agendas. Closely related to the proposed
SDG 16, the Business for the Rule of Law Framework
and Guide for General Counsel on Corporate Sustainability
were introduced to an audience comprised of legal experts
and compliance officers.
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Global Compact International Yearbook 2015