The United Nations Global Compact launches the SDG 16 trade framework to
New York, NY, May 31, 2021 (GLOBE NEWSWIRE) – UNITED NATIONS, New York, June 1, 2021 – The United Nations Global Compact today launched a new tool to accelerate business action on the element of governance (“G”) in the environment, social, governance (“ESG”).
The “SDG 16 Corporate Framework: Inspiring Transformational Governance” provides guidance to companies on strengthening corporate culture, ethics and performance and supporting public institutions, laws and systems. It will be discussed at the United Nations Global Compact Leaders Summit on June 16, 2021 during the “The Road to Transformational Governance” session at 5:15 am ET. Goal 16 of the Sustainable Development Goals includes 12 specific targets that promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions.
The operational framework of SDG 16 will help companies adopt transformational governance, a principles-based philosophy that calls on companies to be more responsible, ethical, inclusive and transparent as a driver of responsible business conduct, d ” improved ESG performance and strengthened public institutions, laws and systems. .
With the increasing overlap and urgency on ESG issues, transformational governance is a lens through which companies can broaden their understanding of the ‘G’ in ESG. It shows why and how companies can assess and implement each target of SDG 16 through internal and external activities, including throughout their supply chains.
“The COVID-19 pandemic and converging crises – including climate change, economic uncertainty, social inequalities and disinformation – have shown that businesses do not operate in isolation from society at large. Businesses can and should play their role in promoting ethical leadership and building trust between public and private institutions and civil society. This framework guides companies on the path of transformational governance, going beyond compliance to become advocates for the principles of peace, justice and strong institutions, ”said Sanda Ojiambo, CEO and Executive Director of the Global Compact United Nations.
The operational framework of SDG 16 is not intended to create new legal commitments or standards, but to deepen understanding of the role that business can play in advancing these issues; strengthen cross-functional engagement; encourage companies to assess where they stand and identify opportunities for improvement; and to incorporate into the board and management oversight, values and culture, strategies, policies, operations and relationships.
It draws on the knowledge of more than 60 business leaders and consultations in 14 countries around the world and reflects the CEO’s Declaration for Renewed Global Cooperation which was signed by more than 1,300 CEOs of companies in over 100 countries and ship to the United States. United Nations Secretary-General on the occasion of the 75th anniversary of the United Nations. The Declaration demonstrated its support for inclusive multilateralism and the goals of SDG 16. The Framework will form the basis of the UN Global Compact’s focus on transformational governance as part of its 2023 strategy.
NOTES TO EDITORS:
About the Platform for Action for Peace, Justice and Strong Institutions (SDG 16)
The SDG 16 Platform for Action was launched in 2018 and includes very committed companies working to implement SDG 16 and inspire transformational governance. Patrons include: Baker McKenzie, L’Oréal, Nestlé and participants include: Anglo-American, APCO Worldwide, Enel, Leonardo, Linklaters, LRN Corporation, Oando, RELX, Safaricom, Sumitomo Chemical, Thomson Reuters, White & Case.
About the United Nations Global Compact
As a special initiative of the United Nations Secretary-General, the United Nations Global Compact is a call for companies around the world to align their operations and strategies with the ten principles in the areas of human rights. , labor, the environment and the fight against corruption. Our ambition is to accelerate and extend the collective global impact of companies by respecting the Ten Principles and achieving the Sustainable Development Goals through responsible companies and ecosystems that enable change. With more than 12,000 companies and 3,000 non-commercial signatories based in more than 160 countries and 69 local networks, the United Nations Global Compact is the world’s largest corporate sustainability initiative – a Global Compact enterprise that unites for a better world.
For more information, follow @globalcompact on social media and visit our website at unglobalcompact.org.
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