Distribution Network
Content
More than 1000 companies have now been de-listed from the Global Compact by the United Nations for failing to meet mandatory reporting requirements.
The Compact Office has released a full listing of the 1005 excluded companies, which includes companies of all sizes, and across all industry sectors and countries.
Businesses in the Compact are required to report annually on progress made on implementation of the initiative’s ten principles covering issues such as human rights, the environment and corruption. Failure to submit a public ‘communication on progress’ (COP) within one year of joining results in a change of a company’s status, with consecutive failures leading to the removal of the company.
This time last year only 630 companies had been de-listed since the founding of the Compact in 2000.
Despite the recent de-listings, however, the Compact continues to grow at a rate of around 100 new signatories per month, and now has more than 7000 participants worldwide.
Although de-listed companies are removed from the Compact’s database, they are not excluded from returning to ‘active’ status. To rejoin the Compact they must provide a new commitment to the UN secretary-general and submit a COP.
The recent news follows rule-tightening at the Compact earlier this year, by which new business participants were given one year rather than two to submit their first COP.
The Compact Office has released a full listing of the 1005 excluded companies, which includes companies of all sizes, and across all industry sectors and countries.
Businesses in the Compact are required to report annually on progress made on implementation of the initiative’s ten principles covering issues such as human rights, the environment and corruption. Failure to submit a public ‘communication on progress’ (COP) within one year of joining results in a change of a company’s status, with consecutive failures leading to the removal of the company.
This time last year only 630 companies had been de-listed since the founding of the Compact in 2000.
Despite the recent de-listings, however, the Compact continues to grow at a rate of around 100 new signatories per month, and now has more than 7000 participants worldwide.
Although de-listed companies are removed from the Compact’s database, they are not excluded from returning to ‘active’ status. To rejoin the Compact they must provide a new commitment to the UN secretary-general and submit a COP.
The recent news follows rule-tightening at the Compact earlier this year, by which new business participants were given one year rather than two to submit their first COP.
Super Featured
No
Featured
No