International Principles-Based Approach to CSR
The need for international harmonisation in relation to the concept of CSR as well as to align corporate activities to internationally acknowledged principles for sustainable development have lead to two United Nations initiatives:
• UN Global Compact, and
• UN Principles for Responsible Investments (UN PRI)
The UN Global Compact
The UN Global Compact is the world’s largest CSR initiative and it provides the basic framework for corporations on CSR. It presents the bare minimum that responsible corporations must relate to. Members of the UN Global Compact commit to align their operations and strategies with 10 universal principles in the areas of human rights, including core labour rights, the environment and anti-corruption.
In relation to CSR and the so-called Social Bottom Line we apply the 6 first principles of the UN Global Compact (i.e. the International Bill of Human Rights) as the guideline and basis for all CSR activities. With respect to the environment and anti-corruption we apply the latter 4 principles of the UN Global Compact and the underlying conventions and declarations.
This approach is in line with UN recommendations and the Danish government’s policy on CSR. In it's national action plan for CSR, released in May 2008, the Danish Government explicitly urges Danish corporations to make use of the internationally acknowledged principles in UN Global Compact or UN PRI. The rationale is evident: If focus on CSR shall provide for a competitive edge in a globalized economy we need to demonstrate CSR up against universally applicable principles – or as expressed by Kofi Annan when launching the initiative in 2000: “Think Global, Act Local”.
GLOBAL CSR has promoted a principles-based approach to CSR since 1996 and has in-depth experience in helping corporations to gain the most value from applying the UN Global Compact framework.
For more information please contact: info@global-csr.com