Trade and Development / UN Global Compact; Contribution to the Global Compact trust Fund in 2018-2020 (5th contribution)

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 organizations. UNGC advances also development partnerships between companies and the UN System. The theory of change of the UNGC is based on the assumption that adherence to the 10 principles and other sustainability work by companies will change business behavior qualitatively so that they create more positive social and environmental development impact in the society directly and indirectly in their supply-chain: human rights are respected, labour and environmental norms are followed and companies create new solutions for resolving sustainable development challenges. UNGC on the most important and largest global network that advances the business commitment to responsible business conduct and sustainable development. Finland has partnered with the UNGC since 2008. Finland’s previous support was granted for 2015-2016. UNGC works both at the global and local level. 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 and responsible business conduct. Local Networks are country-specific, multi-country or subregional membership-based networks that advance responsible business conducts with UNGC’s ten principles and collaborate with other players at country or sub-regional levels. UNGC incorporates currently 69 Local Networks all over the world. Finland’s financial contribution to the initiative in 2018-2020 is 200.000 EUR, of which 190.000 EUR is granted to the UNGC and 10.000 to monitoring and advocacy.