How To Report On U.N. Global Compact StandardsHow To Report On U.N. Global Compact Standards https://www.esgenterprise.com/wp-content/uploads/2022/02/U.N.-Global-Compact.jpg 1023 682 ESG Enterprise https://www.esgenterprise.com/wp-content/uploads/2022/02/U.N.-Global-Compact.jpg
A requirement has been placed on every organization taking part in the U.N. Global Compact to present yearly communication of progress (COP) reports that highlight their work and effort to incorporate the ten principles into all their strategies and business processes. This report is essentially a proof of your commitment to sustainability reporting and it is essential that it meets the criteria and standard set by the United Nations. This article gives a brief on how to report the UN global compact.
For companies who are part of the UN global compact, communication on progress follows an adaptable format which can be in any language but must meet some basic requirements. Due to the notable differences in the sustainability sojourn of various the communication process are categorized into three in accordance to their level of disclosure but all share the minimum requirements needed.
Minimum requirements for communication on progress by the United Nations Global compact
- A declaration made by the chief executive of an organization professing a continuing support for the global compact and also restoration of a commitment to the initiative
- A narration of past actions that have been taken by the company and plans put in place to further enforce principles of the key areas concerned Vis a Vis, the human rights, anti-corruption, labor and environment.
- A provision of an estimate or measurement of the outcomes and performance aw of the previous efforts and strategies.
Principles Of The U.N. Global Compact
The UN global compact reports have to conform to the standard as established in the ten principles which cuts across basic responsibilities in human rights, labor, environment and anti-corruption. It is with the aim that businesses represent sustainability by holding these values and practicing them in a way that does not harm people and the planet. The reports centering on the four basic pillars should include the following:
A description of the methodology and systems put in place for the integration of anti-corruption practice and also results and outcome of previous incorporation anti-corruption principle. It should also contain internal accountability practices to confirm the sustainability of anti-corruption commitment.
A narration of the policies that have been put in place to preserve the environment. It is also vital the company highlights policies on environmental stewardship and the incorporation of environmental standards in business partnership.
Outline programs and activities in an organization targeted at monitoring integration of labor principles and critical evaluation of the outcome
Outline the efforts made to ensure that human rights in the organization are wholly recognized and respected and also the strategies targeted at promoting awareness within the organization management and employees.
In a bid to promote transparency and credibility the U.N. Global Compact requires a report from the organizations which show their commitment and effort towards incorporation of sustainability in their organization the ten principles and other sustainable Development Goals. The report is also a great way to compare the progress of an organization and work and guide towards improvement in performance of the organizations.