With more than 9,500 companies as signatories based in more than 160 countries, the UN Global Compact is the world's largest strategic sustainability initiative for companies. The initiative was started 1999 and urges companies to take global responsibility and adapt their strategies and operations to the ten principles.
The foundation of the principles
The principles are derived from the UN's Declaration of Human Rights, the ILO's Declaration on Fundamental Principles and Rights at Work, the Rio Declaration on Environment and Development, and the UN Convention Against Corruption.
Once a year Indutrade will issue a Communication on Progress (CoP) that details how we are conducting our operations in accordance with the 10 principles and outlines our responsibility. The Communication on Progress will be published on the UN Global Compact's website, available to the general public.
Read more about the UN Global Compact and the ten principles on: www.unglobalcompact.org.
INDUTRADE CONTRIBUTES TO FULFILMENT OF THE UN SUSTAINABLE DEVELOPMENT GOALS
In 2015, the UN introduced its 2030 Agenda for Sustainable Development supported by 17 Sustainable Development Goals (SDGs). The SDGs, which should be met by 2030, are aimed at achieving sustainable social, economic and environmental growth.
During 2019, Indutrade reviewed how its activities, primarily via its subsidiaries, can contribute to achievement of the SDGs. Below are some examples of the areas where Indutrade is able to contribute the most.
Many of Indutrade’s companies pro- vides solutions and products that help customers save energy, water, materials and reduce carbon dioxide emissions. As such, they contribute to fulfilment of SDG 6 (Clean water and sanitation), SDG 7 (Affordable and clean energy), SDG 12 (Responsible consumption and production) and SDG 13 (Climate action). Other companies provide solutions and products that contribute to a safer work environment and better health. As such, they contribute to fulfilment of SDG 8
(Decent work and economic growth) and SDG 3 (Good health and well- being). There are also companies supplying products and services for infra- structures and technology solutions, which contributes to SDG 9 (Industry, innovation and infrastructure).
We work systematically to ensure that our operations are run in a fair and ethical way in order to minimise the risk of corruption in the supply chain. This contributes to SDG 16 (Peace, justice and strong institutions). Many of our companies run their operations in smaller cities and communities where they actively contribute to SDG 11 (Development of sustainable cities and societies) and SDG 8 (Decent work and economic growth).
Our employees benefit from competence enhancement and career development opportunities, along with the well-being derived from having a stable workplace. This contributes to SDG 4 (Quality education) and SDG 8 (Decent work and economic growth).