The UN Global Compact (UNGC) has launched a new official website aimed at spurring corporate sustainability action.
Designed to support business at all stages along the corporate sustainability journey — from those companies that are just learning how to integrate sustainability into their business, to the most advanced companies operating on the leading edge — the website helps make the business case for corporate sustainability and shows how companies can engage on specific issues, such as gender equality and climate. It also provides ideas for leadership practices, such as engaging boards of directors and setting long-term sustainability goals.
UNGC says companies now can search and find events and actions they can take to advance their commitment to corporate sustainability. Users also are able to search the UNGC’s 12,000+ participants by sector and/or geography, or quickly find a Global Compact Local Network in their country. The website hosts a searchable library of over 400 resources, including guidance materials, videos, infographics, meeting reports and more.
In an effort to encourage deeper engagement among participants, the website will now make it easier for companies to share their stories to help guide and inspire others, according to UNGC. Companies will be able to submit case examples directly through the website and allow users to search through existing examples of what companies are doing to advance their commitment to the UNGC.
Overcoming the purpose paradox
Hear more from Carol Cone on how B2B and B2C companies are implementing purpose — and what may be holding them back — at SB'20 Long Beach.
Collaborations are one such way companies are advancing sustainable business objectives. Earlier this year, UNGC, along with MIT Sloan Management Review and The Boston Consulting Group, published research showing that a growing number of companies are turning to collaborations — with suppliers, NGOs, industry alliances, governments and even competitors — to become more sustainable. As sustainability issues become increasingly complex, global in nature and pivotal to success, companies are realizing that they can’t make the necessary impact acting alone.
Accountability is important for successful collaborations. In the second half of 2014, UNGC expelled 372 companies for failure to communicate progress for at least two consecutive years, bringing the total number of expelled companies in 2014 to 657. However, the number of companies joining the Compact continues to exceed the number of expulsions, with 729 companies from around the world joining the initiative from July through December 2014.