Trade and Development / UN Global Compact; Contribution to the Global Compact trust Fund in 2014

Description What is done in the programme or project and why, what results are pursued, who benefits from the activities and who are involved in the implementation.

UN Global Compact (UNGC) is a global corporate leaders’ initiative, launched by the UN Secretary-General in 2000, which aims at transforming the business world to operate, both in developed and developing countries, in a socially and environmentally sustainable and responsible manner, together with the UN System, civil society and labor unions. UNGC advances also development partnerships between companies and the UN System with the objective of encouraging the business world to advance the globally approved development goals and the UN initiatives UNGC is the most important and largest global network that advances the business commitment to Corporate Social Responsibility (CSR) and sustainable development. Finland has partnered with the UNGC since 2009. UNGC works both at the global and local levels: Global Compact Office is responsible for the operative management and coordination of the initiative, support for other administrative parts of the initiative and active mobilization of various players, especially the private sector, in advancing sustainable development under the partnership and CSR umbrella. Local Networks are country-specific, multi-country or subregional membership-based networks that advance CSR with UNGC’s ten principles and collaborate with other players at country or subregional levels. UNGC incorporates 102 Local Networks all over the world. As a result of UNGC's activities, some 12200 corporations and other organizations have commited themselves to operating according to the CSR principles and supporting the UN goals and initiatives. With the help of the UNGC's working groups, global issue platforms and subinitiatives, the UNGC has gained visibility for many key themes, integrated corporations more keenly in cooperation on these themes and strengthened the fundraising of the initiative. UNGC's activities produce significant indirect development impacts, especially in poor developing countries and emerging economies: e.g. growth of business, economic growth, job creation, corporate activity for the benefit of human rights, status of women and gender equality, good governance, environment, and peace and security as well as increased tax income and export revenue.