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Work is underway to create a ‘tiered’ system that will make it easier for developing world firms to report properly on their adherence to the United Nations Global Compact principles.
The move comes in the wake of a decision announced earlier this year to impose a one-year moratorium on the de-listing of developing world businesses that fail to fulfil the Compact’s reporting requirements (EP12, issue 1, p1).
The Compact Office says it is now working on a regime ‘that will ensure that companies that are at a disadvantage because of resources or language barriers do not simply fall off the wagon’.
It told EP: ‘We’re [making] the reporting process easier for such organizations without letting go of the core requirements. It would be a tiered reporting system taking into account the fact that some companies are more advanced and that others are just beginning the process.’
One aspect of the new system could be a template to help some firms file their annual communications on progress, which are a requirement of being a Compact signatory.
The move comes in the wake of a decision announced earlier this year to impose a one-year moratorium on the de-listing of developing world businesses that fail to fulfil the Compact’s reporting requirements (EP12, issue 1, p1).
The Compact Office says it is now working on a regime ‘that will ensure that companies that are at a disadvantage because of resources or language barriers do not simply fall off the wagon’.
It told EP: ‘We’re [making] the reporting process easier for such organizations without letting go of the core requirements. It would be a tiered reporting system taking into account the fact that some companies are more advanced and that others are just beginning the process.’
One aspect of the new system could be a template to help some firms file their annual communications on progress, which are a requirement of being a Compact signatory.
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