Global Compact: IBSA and IBSA Foundation join the United Nations project for sustainable growth

Promoting a more inclusive and sustainable global economy while actively contributing to this process: with these goals in mind, the IBSA Group and IBSA Foundation for scientific research have recently joined the United Nations Global Compact (UNGC) initiative, a voluntary project aimed at developing, implementing and promoting responsible business practices.

GLOBAL COMPACT: WHAT IT IS ABOUT

Launched in 2000 by then-UN Secretary-General Kofi Annan, the Global Compact is currently the largest corporate sustainability initiative globally, with over 20,000 companies and more than 3,800 non-profit partners across 160 countries, including academic institutions, business associations, cities and municipalities, civil society organisations, trade unions and other public sector entities.

The Global Compact supports companies in their commitment to Sustainable Development Goals (SDGs) and encourages businesses to align their strategies through its ten universally accepted principles, which focus on human rights, labour conditions, environmental protection and anti-corruption efforts.

As a member of the United Nations Global Compact, IBSA is committed to providing regular updates on its progress through the annual publication of a report called Communication on Progress (COP). Meanwhile, IBSA Foundation for scientific research has joined the Switzerland-Lichtenstein network as a non-profit member by virtue of its activities, which are perfectly aligned with the sustainable development objectives, such as the initiatives in the field of dissemination of culture and education and the promotion of health and well-being of all individuals, at all ages, and the potential for collaboration with network members. The membership process required signing a Communication of Engagement (COE), which must be renewed every two years.

GLOBAL COMPACT: TOOLS AND OPPORTUNITIES

The various opportunities offered by joining the Global Compact include:

• Unprecedented networking access with participants in the United Nations Global Compact, representing nearly all industrial sectors (from small businesses to multinationals);
• Access to partnerships with a wide range of stakeholders, to share best practices and emerging solutions;
• Best practice guidelines, based on over 20 years of success;
• Tools, resources and training;
• The moral authority, knowledge and experience of the United Nations.

Chiara Piccolo, ESG Manager at IBSA, stated: “Joining the United Nations Global Compact is a key step in our development as a sustainable organisation. Corporate sustainability is deeply rooted in IBSA’s core values and translates into an operational approach based on fulfilling essential duties regarding human rights, labour, the environment and anti-corruption across all locations. Embracing the ten principles of the UNGC within our strategies and promoting a culture of integrity ensures that our business model, investments, innovation, technological development and multi-stakeholder collaborations concretely contribute to a sustainable economic development”.

THE TEN PRINCIPLES OF THE UNITED NATIONS GLOBAL COMPACT