UN Global Compact Expels 99 Companies in First Half of 2013

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UN Global Compact Expels 99 Companies in First Half of 2013

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Monday, July 1, 2013 - 2:15pm

NEW YORK, July 1, 2013 /3BL Media/ – The UN Global Compact today announced that it has expelled 99 companies in the first half of 2013 for failure to communicate progress for at least two consecutive years. A public list of expelled companies can be found here.

These expelled companies represent three percent of the 3,288 participants due to submit a Communication on Progress (COP) within the first six months of 2013. During the same period, 2,233 companies did submit a COP, of which 130 achieved the GC Advanced level, an unprecedented number reflecting an increased commitment to transparency.

The number of companies joining the Global Compact continues to significantly exceed the number of expulsions. With 646 companies from around the world joining the initiative to date in 2013, participants have signed onto the Global Compact at more than six times the rate of expulsions.

Business participants in the Global Compact commit to make the ten principles part of their business strategies and day-to-day operations. As an integral part of their commitment, companies must issue an annual COP, a public disclosure to stakeholders (investors, consumers, civil society, Governments) on progress made in implementing the ten principles, and in supporting broader UN development goals.

Companies that fail to submit a COP for two consecutive years have not fulfilled their commitment to the Global Compact and face expulsion from the initiative. Expelled participants that wish to renew their participation must reapply via a new Letter of Commitment from the chief executive.

The Global Compact offers customized and direct support to participants through its Relationship Management and Transparency and Disclosure teams, as well as through Local Networks in 101 countries. Companies of all types and in all regions are encouraged to take advantage of this valuable support to maximize their participation in the initiative.

The UN Global Compact Leaders Summit 2013: Architects of a Better World, to be held 19-20 September, will provide an opportunity for companies to demonstrate their commitment to the principles and redouble their efforts toward sustainability. Chaired by UN Secretary-General Ban Ki-moon, the Leaders Summit will bring together chief executives with leaders from civil society, Government and the United Nations to unveil a new global architecture for corporate sustainability. As the Millennium Development Goals 2015 deadline approaches, the Summit will set the stage for business to shape and advance the post-2015 development agenda – putting forward a framework for business to contribute to global priorities, such as climate change, water, food, women's empowerment, children's rights, decent jobs, and education.

The Global Compact welcomes the international community – Governments, civil society, academia and media – to take note of this information and encourage more companies to make a serious and enduring commitment to universal sustainability principles.

About the United Nations Global Compact

Launched in 2000, the United Nations Global Compact is both a policy platform and a practical framework for companies that are committed to sustainability and responsible business practices. As a multi-stakeholder leadership initiative, it seeks to align business operations and strategies with ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption, and to catalyze actions in support of broader UN goals. With 7,500 corporate signatories in more than 135 countries, it is the world’s largest voluntary corporate sustainability initiative. www.unglobalcompact.org



Kristen Coco
+1 (917) 367-8566
UN Global Compact
Keywords: Research, Reports & Publications | Corporate Sustainability | Disclosure | Events, Media & Communications | Innovation & Technology | Reporting | Transparency | UN Global Compact | UN Global Compact Leaders Summit