UN Global Compact releases global report on impact of corporate sustainability
UN Global Compact Network Australia | June 20, 2015
The UN Global Compact has released a new report,
Among the report’s key findings is a major shift in global perceptions of the role of business in society, as well as a critical initiation of the investment community. It concludes that the UN Global Compact has had a profound impact in driving corporate sustainability globally, having strengthened the enabling environment for responsible business in 170 countries.
“When the Global Compact was first launched, business was largely about generating value for shareholders. Corporate sustainability and stakeholder matters drew marginal attention. The idea that business can, and should, balance profit with purpose has started to challenge the long-held view of short-term profit-maximisation. The Global Compact has contributed to a cognitive overhaul around the purpose of business and its obligations to society, and importantly challenged the view that sustainability is only about risk.”