UN promotes sustainable business

United Nations Development Programme (UNDP) has made a strong call on Ghanaian businesses to sign on to the global compact code to ensure sustainable and responsible business practices.
 

The global compact is both a policy platform and practical framework for companies that are committed to sustainable and responsible business practices. 

It seeks to align business operations and strategies with 10 universally accepted principles in the areas of human rights, labour, environment and anti-corruption.

 “The compact is based on the idea that business as a major and powerful component of every society has a role and a clear responsibility to help address the world’s most pressing challenges.

“Through the Global Compact, businesses can join hands with other partners to find solutions to the myriad of challenges facing humanity.” Mr. Kamil Kamaludden, Country Director, UNDP speaking at the re-launch of the UN Global Compact Local Network in Accra.

The programme was also targeted at announcing the transfer of the ongoing convergence of the global COMPACT and Ghana Business Code, which sought to align the Global Compact principles with the Ghana Companies Code.

He explained that the Compact provides a practical framework for the development, Implementation and disclosure of sustainability policies and practices, offering business participants a wide spectrum of management tolls and resources to help advance sustainable business models and markets and civil society a framework to help businesses accountable.

“I believe the convergence is opportune and will enable us benefit from the experiences of the two initiatives to ensure the nation obtains optimum benefit from the Global Compact.”

He encouraged the private sector including the Ghana Chamber of Mines, Ghana Employers Association and the Association of Ghana Industries to work closely together with the membership of the Network and the business code partners to ensure a smooth transition and convergence of the two initiatives and to the development of a strong and vibrant network.

Ms. Helle Johansen, UN, Private Sector Advisor, UNDP Nordic Officer said the objective of  transferring the Global Compact network administration  to the private sector is to strengthen the impact and sustainability of the network.

For a Global compact network to be attractive to the businesses it needs to address the members’ specific challenges with implementing the Global Compact and at the same time, create a forum for sharing of experiences and knowhow. 

The network secretariat is currently looking into which learning events will be offered in the coming time and how the network can create the best conditioned so this sharing of experiences among the members can take place.

It has more than 8,700 corporate participants and stakeholders from 130 countries and with more than 80 local networks around the world.

Dr. Toni Aubynn, Chief Executive Officer of the Ghana Chamber of Mines said: “The support of the UNDP for this initiative has brought a number of local companies, business associations, labour union and NGOs to commit to these universally accepted principles and work hard to ensure their businesses operate within the confines and the noble principles of the compact.”