(New York) – Secretary-General Ban Ki-moon today stressed the need for more businesses to join the United Nations Global Compact.
Addressing the Global Compact Board at its meeting at UN Headquarters, the Secretary-General noted that the current number of participants in the initiative is just a fraction of the estimated 70,000 multinationals and millions of small businesses.
“It is important that the principles of the Global Compact are accepted by more businesses around the world,” he said, reaffirming the Global Compact’s goal of reaching 20,000 companies by 2020.
“Reaching a critical mass will be essential if we are to help retool markets and economies towards sustainability,” the Secretary-General added.
The Secretary-General also noted that the initiative has expelled more than 2,400 companies for failing to report to their stakeholders on progress they have made.
“Our challenge is to get the entire membership to do better,” he said. “We need to bring more companies from the lower rungs of sustainability to more advanced practices.”
Appointed and chaired by the Secretary-General, the Global Compact Board is the United Nations’ highest-level advisory body involving the private sector. Its 24 members comprise representatives of business, civil society and international organizations. The Board provides ongoing strategic and policy advice for the initiative as a whole and makes recommendations to the Global Compact Office, participants and other stakeholders.
A full report of the 21 June Board Meeting will be available shortly.
UN Global Compact