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The UN global compact's ten principles


The UN Global Compact asks companies to embrace, support and enact, within their sphere of influence, a set of core values in the areas of human rights, labour standards, the environment and anti-corruption:

Human Rights

  • Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights;
  • Principle 2: make sure that they are not complicit in human rights abuses;

Labour

  • Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
  • Principle 4: the elimination of all forms of forced and compulsory labour;
  • Principle 5: the effective abolition of child labour; and;
  • Principle 6: the elimination of discrimination in respect of employment and occupation;

Environment

  • Principle 7: Businesses should support a precautionary approach to environmental challenges;
  • Principle 8: undertake initiatives to promote greater environmental responsibility; and;
  • Principle 9: encourage the development and diffusion of environmentally friendly technologies;

Anti-Corruption

  • Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.

Charter of the Global Alliance for Banking on Values

The Global Alliance for Banking on Values is an independent network of banks using finance to deliver sustainable development for unserved people, communities and the environment.

Over the last several decades a number of banks and their affiliates have emerged throughout the world to deliver innovative products to holistically meet the needs of their communities. In the more recent past the financial sector has found itself in a crisis of multiple dimensions including lack of confidence, inadequate profitability and over-complexity leading to a negative impact on the overall economic climate. The Global Alliance for Banking on Values has been established to use the knowledge from these innovative banks and affiliates to provide alternatives for addressing the current crisis in our financial world impacting the overall sustainability of our society.