The United Nations Global Compact and the Global Reporting Initiative (GRI) have signed a new Memorandum of Understanding which defines an ongoing collaboration between the two organizations over the next three years. The collaboration, in general, will be aimed at reinforcing the private sector’s contribution to the achievement of the United Nation’s Sustainable Development Goals (SDGs).
More specifically, the two organizations intend to:
- support firms in measuring and reporting policies and activities implemented in support of the SDGs;
- promote the spread of best reporting practices among companies engaged in the SDGs;
- get small and medium-sized enterprises around the world involved in the SDGs, thus making them play a crucial role in the global economy.
In this light, the UNGC and the GRI are committed: to providing their respective networks with all available tools to support the Global Goals, such as the SDG Compass launched in 2015 by the Global Compact; to carrying out training projects at local level in order to spread and strengthen reporting on sustainability practices (with a special focus on the least developed markets and small and medium enterprises); and finally, to participating actively in the United Nations High Level Political Forum.
The UNGC and the GRI have a long history of collaboration and partnership on the issue of transparency (of information) as the key factorin a more inclusive and sustainable global economy. The Global Compact constantly encourages firms participating in the initiative to use the G4 Sustainable Reporting Guidelines to communicate their progress in the implementation of the Ten Principles in the areas of human rights, labour, the environment and anti-corruption.