UN Global Compact Network Launched in Australia
Thursday, 25th June 2009 at 1:29 pm
The Australian Network of the UN Global Compact was formally launched at the 10th National Business Leaders Forum on Sustainable Development at Parliament House, in Canberra by Senator Nick Sherry (Minister for Superannuation and Corporate Law) and Georg Kell (Executive Director of the UN Global Compact).
Launched in 2000, the UN Global Compact revolves around 10 principles for business on human rights, labour, the environment and anti-corruption. The Global Compact has two key purposes being to encourage the integration of its 10 principles into responsible business practice and to garner collective action of the UN Global Compact and its related UN initiatives.
Senator Sherry described the compact as a very significant initiative.
He says that at a time when transparency, trust, confidence are emerging as key issues for both business and the community, it is an important and practical step in clearing the path for companies to develop their responsible business practices both locally and internationally.
Over 5000 business participants from over 130 countries around the world have committed to working towards the principles and communicate on an annual basis to their own stakeholders about their progress. With the launch of the UN Global Compact Network in Australia (housed by St James Ethics Centre) the number of companies becoming signatories to the UN Global Compact is expected to grow.
Recent Australian signatories include Woolworths and Drake International. They join long-standing Australian participants like Westpac, BHP Billiton, Foster’s and Allens Arthur Robinson.
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