WASHINGTON, DC – (RealEstateRama) — Earlier this week, the National Institute of Building Sciences issued a Communication on Engagement (COE) reaffirming its support to the world’s largest corporate responsibility initiative, the United Nations (UN) Global Compact.
To demonstrate their continued engagement with the UN Global Compact, non-business participants must submit a COE every two years. The COE discloses to stakeholders specific activities that a non-business participant takes in support of the UN Global Compact.
Two years ago, the Institute initiated its relationship with the UN Global Compact, which has nearly 12,000 business and non-business participants in 160 countries. The UN Global Compact is a strategic policy initiative for businesses that are committed to aligning their operations and strategies with 10 universally accepted principles in the areas of human rights, labor, environment and anti-corruption. By doing so, business, as a primary driver of globalization, can help ensure that markets, commerce, technology and finance advance in ways that benefit economies and societies everywhere.
The 10 UN Global Compact Principles are as follows:
- Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
- Principle 2: make sure that they are not complicit in human rights abuses.
- Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
- Principle 4: the elimination of all forms of forced and compulsory labor;
- Principle 5: the effective abolition of child labor; and
- Principle 6: the elimination of discrimination in respect of employment and occupation.
- Principle 7: Businesses should support a precautionary approach to environmental challenges;
- Principle 8: undertake initiatives to promote greater environmental responsibility; and
- Principle 9: encourage the development and diffusion of environmentally friendly technologies.
- Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
Global Compact Local Networks can be found in 85 countries across the globe. Within a local context, these networks provide opportunities for participants to improve understanding and share experiences on the 10 Principles and partnerships, as well as how to report on progress in these areas.
The National Institute of Building Sciences welcomes U.S. building industry feedback and participation in realizing the success of the 10 Principles and encourages other organizations to support the UN Global Compact.