UN Global Compact Meets at the EU Parliament to Advance Corporate Sustainability

Brussels, Belgium

In the European Parliament today, the United Nations Global Compact organized a conference bringing together Members of the European Parliament, representatives of the European Commission, leading companies of the UN Global Compact as well as the Executive Directors of the UN Global Compact Local Networks across Europe for a pivotal dialogue entitled "UN Global Compact: Catalyst for EU Corporate Sustainability and Competitiveness".

The meeting focused on exploring how the UN Global Compact and its Local Networks can work together with European institutions and EU member states to support companies as they work towards new regulations such as the Corporate Sustainability Due Diligence Directive (CSDDD) and the Corporate Sustainability Reporting Directive (CSRD). These regulatory initiatives seek to foster sustainable and responsible corporate behavior throughout global value chains. Working in tandem, the UN Global Compact seeks to guide companies towards not only meeting compliance standards, but also towards embracing long-term ambitions, enhancing impact and boosting competitiveness.

The UN Global Compact, the world’s largest corporate sustainability initiative, has more than 9,000 participants headquartered in the European Union (52 per cent of which are small and medium-sized enterprises (SMEs)). It promotes a set of Ten Principles focused on human rights, labor, environment and anti-corruption to amplify global corporate impact and achieve the Sustainable Development Goals (SDGs). With its extensive network of Local Networks across the European Union, the UN Global Compact equips businesses to move from policy to impact. Resources available to companies include:

• The UN Global Compact Academy: A learning platform attracting more than 100,000 users from business in just one year
• Peer Learning: Regional and national platforms for companies to exchange best practices and discuss challenges and solutions.
• Business Accelerators: 6-9 months programs for businesses to advance Business and Human Rights Due Diligence, Ambitious Climate Targets and Actions, Gender Equality, and SDG innovation
• Think Labs: Global projects involving leaders from business, academia, civil society, government, and the United Nations to craft new solutions for pressing sustainability challenges.

The meeting represented a significant stride forward, showcasing opportunities for business to strengthen sustainability impact and competitiveness, while underscoring the pivotal role the UN Global Compact can play in aligning business strategies with the EU agenda through its programming.

Quotes

"In recent years the European Union has introduced a range of regulatory initiatives which, in different ways, seek to address the impacts that businesses have on the enjoyment of human rights and the environment. The UN Global Compact possesses an immense amount of knowledge and experience, which legislators can utilize in their proposals and decision-making. We can do more together, think about workshops, training and campaigns to transfer knowledge and expertise and to create awareness." - Samira Rafaela, Member of the European Parliament

“We believe the UN Global Compact with its program-portfolio and strong footprint we have across the EU,  can play a significant role advancing the EU corporate sustainability agenda. For businesses, it is important to go beyond compliance driving real impact and thereby also strengthening resilience and competitiveness.” - Ole Lund Hansen, Chief, Global Operations, UN Global Compact

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