PRIVATE COMPANIES MUST BOOST EFFORTS TO IMPLEMENT SUSTAINABLE POLICIES – UN REPORT

From: UNNews <UNNews@un.org>
Date: 5 Sep 2013 16:00:01 -0400
Subject: PRIVATE COMPANIES MUST BOOST EFFORTS TO IMPLEMENT SUSTAINABLE
POLICIES – UN REPORT
To: news11@ny-mail-p-lb-028.ptc.un.org

PRIVATE COMPANIES MUST BOOST EFFORTS TO IMPLEMENT SUSTAINABLE POLICIES
– UN REPORTNew York, Sep 5 2013 4:00PMWhile private companies have
made progress in recent years in addressing sustainability issues,
more needs to be done to close the gap between talk and action on
social responsibility, according to a United Nations report released
today.

The <i><"http://www.unglobalcompact.org/AboutTheGC/global_corporate_sustainability_report.html">Global
Corporate Sustainability Report 2013</i>, released by the UN Global
Compact, found that many companies are defining goals and setting
policies but still have much work to do in terms of implementing these
policies. For example, 65 per cent of the companies who too part in
the report develop sustainability policies at the Chief Executive
Officer (CEO) level, while only 35 per cent train managers to
integrate sustainability into strategies and operations.

The report <"http://www.unglobalcompact.org/news/381-09-05-2013">surveyed
nearly 2,000 companies across 113 countries, and provides a snapshot
of the actions taken by businesses to embed responsible practices into
their strategies, operations and culture.

The report also stresses that commitment to sustainability principles
such as the protection of human rights, transparency and
accountability, environmental stewardship and social inclusion affect
companies' performance.

"Corporate sustainability is serious business. It influences long-term
financial success. What used to be external to the company is now
internal," the Executive Director of the UN Global Compact, Georg
Kell, told reporters in New York.

"Social issues such as poverty are also business issues and businesses
can take on them proactively and be part of the solution or continue
to ignore them at their own risk."

The report also found that while small and large companies are
committing to the UN Global Compact in equal numbers, larger companies
are significantly more likely to move beyond commitment to action
across all issue areas. However, the survey also notes that smaller
companies are increasingly taking steps to catch up to their larger
peers.

Supply chains are a major obstacle to implement sustainability
policies, the report states. Even though the majority of companies
have established sustainability expectations for their suppliers, they
have the challenge of tracking their compliance and help suppliers
reach their goals in this matter.

Mr. Kell added that despite challenges, more companies are recognizing
the importance of sustainable practices and are joining the Global
Compact to align their core business strategies with UN principles and
global development priorities.

Launched in 2000, the UN Global Compact is the world's largest
corporate responsibility initiative, with more than 8,000 companies in
some 144 countries. It seeks

The report will provide the backdrop for the UN Global Compact Leaders
Summit 2013: Architects of a Better World on 19-20 September in New
York. The Summit will bring together 1,000 chief executives and
leaders from civil society, government and the UN.Sep 5 2013 4:00PM
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