Large Canadian corporations such as Bombardier Inc., Hudson's Bay Company, Hydro-Québec, Scotiabank and TELUS Corporation, as well as corporations of smaller size have joined the United Nations Global Compact in the recent years.
The Global Compact, initiated a decade earlier by then UN Secretary-General Kofi Annan, is a voluntary initiative of responsible corporations pursuant to which the participants covenant to integrate the Global Compact and its principles to their business culture, strategies and activities.
The Global Compact's ten (10) principles are derived from the Universal Declaration of Human Rights, the International Labour Organization's Declaration on Fundamental Principles and Rights at Work, the Rio Declaration on Environment and Development and from the United Nations Convention Against Corruption, and focus on human rights, labour standards, environment and anti-corruption issues.
Although the Global Compact aims to bring participating corporations to show more transparency and to take measures to change their behaviours so as to comply with the Global Compact and its principles, the actions of participating corporations will not be subject to any enforcement measures or auditing. As such, it is a voluntary initiative free of any legal constraints for participating corporations.
Global Compact participants may, subject to approval from the Global Compact Office, use the Global Compact logo on their website and documentation to demonstrate their efforts to promote corporate social responsibility and sustainability.
For more information, visit the Global Compact Office's website.
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