Developed by the United Nations (UN), the Global Compact (UNGC) is an innovative corporate responsibility approach that suggests universal principles on sustainability, social responsibility and anti-corruption to the constantly competitive business world to create a common development culture.
As the world’s largest voluntary corporate social responsibility initiative with over 9.000 corporate participants and stakeholders from more than 160 countries since 2000, Global Compact has set out 10 universal principles under these main titles: human rights, labor, environment and anti-corruption.
Garanti BBVA Pension has declared on July 14, 2015 that it shall commit to fight a joint struggle within the framework of these ten basic principles.
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
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 labor
Principle 5: The effective abolition of child labor
Principle 6: The elimination of discrimination in respect of employment and occupation
Principle 7: Businesses should support a precautionary approach to environmental challenges
Principle 8: Undertake initiatives to promote greater environmental responsibility
Principle 9: Encourage the development and diffusion of environmentally friendly technologies
Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery
Click to access the Global Compact.