At Greenstone, we understand that we play a role in helping organisations to meet many of the UN’s goals and objectives, including the ten principles of the UN Global Compact (UNGC). Greenstone has been a participant of the UN Global Compact since 2013 and actively uses and promotes the UN Global Compact Principles as a standard for our clients and are dedicated to improving the transparency of corporate reporting in the 4 key areas of Human Rights, Labour, Environment and Anti-Corruption.
What is the UN Global Compact?
The United Nations Global Compact is a non-binding United Nations pact to encourage businesses and firms worldwide to adopt sustainable and socially responsible policies and to report on their implementation. The UN Global Compact is a principle-based framework for businesses, stating ten principles in the areas of human rights, labour, the environment and anti-corruption. Under the Global Compact, companies are brought together with UN agencies, labour groups and civil society. Cities can join the Global Compact through the Cities Programme.
The UN Global Compact is the world's largest corporate sustainability initiative with 13000 corporate participants and other stakeholders over 170 countries with two objectives: "Mainstream the ten principles in business activities around the world" and "Catalyse actions in support of broader UN goals, such as the Millennium Development Goals (MDGs) and Sustainable Development Goals (SDGs)". Moving forward, the UN Global Compact and its signatories are deeply invested and enthusiastic about supporting work towards the SDGs.
What are the Ten Principles?
By incorporating the Ten Principles of the UN Global Compact into strategies, policies and procedures, and establishing a culture of integrity, companies are not only upholding their basic responsibilities to people and the planet but also setting the stage for long-term success.
The Ten Principles of the United Nations Global Compact are:
1. Businesses should support and respect the protection of internationally proclaimed human rights; and
2. Make sure that they are not complicit in human rights abuses.
3. Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
4. The elimination of all forms of forced and compulsory labour;
5. The effective abolition of child labour; and
6. The elimination of discrimination in respect of employment and occupation.
7. Businesses should support a precautionary approach to environmental challenges;
8. Undertake initiatives to promote greater environmental responsibility; and
9. Encourage the development and diffusion of environmentally friendly technologies.
10. Businesses should work against corruption in all its forms, including extortion and bribery.
Greenstone and UNGC
Greenstone has been a participant of the UN Global Compact since 2013 and reports its commitment to the UN Global Compact Guiding Principles through its annual Communication on Progress (COP).
Greenstone also promotes engagement with the UN Sustainable Development Goals (SDGs), as well as the recommendations of the Taskforce on Climate-related Financial Disclosure (TCFD) across our client base and in its software solutions. In addition, Greenstone is a signatory to the United Nations Principles for Responsible Investment (UNPRI) and enables other organisations to engage with the principles through our sustainability software solutions.
Sustainability software – enabling responsible business
Through our Enterprise software, we enable organisations to measure, understand and communicate their environmental, frameworks and health & safety performance and impacts. Reporting on sustainability provides transparency to consumers, employees, investors and other stakeholders. It also enables organisations to reduce their environmental footprint, achieve their sustainability goals and become responsible businesses.
Greenstone is an easy-to-use, secure, software solution used by organisations to support the collection, management, analysis, and reporting of sustainability and ESG data. The user-friendly platform includes Environment, Frameworks, and Health & Safety modules to provide organisations with a complete picture of their sustainability performance, better quality data, and increased confidence in their reporting.
Supply chain software – enabling responsible supply chains
Through our SupplierPortal software, we are helping our clients to improve transparency across their supply chains. SupplierPortal is an online platform for suppliers and their buyers to track and monitor relevant sustainability information, for example environmental, labour, health & safety and anti-bribery & corruption information.
Using a series of questionnaires, suppliers are able to disclose information about their policies, compliance and the procedures they have in place. This helps to buy organisations to get a better understanding of the companies they work with across their supply chain to help them make informed business decisions.
Investor ESG software – enabling responsible investing
Incorporating ESG performance into investment decisions and portfolio management strategies is becoming increasingly intrinsic to investor decision making. However, although responsible investment and ESG reporting is increasingly being considered, investors are faced with many challenges when it comes to gathering, maintaining and analysing ESG data. Greenstone has developed InvestorPortal as a solution to address this challenge.
Through our InvestorPortal software, we enable the collection, management and analysis of customisable ESG data across investments, portfolios and funds. This allows investors to better understand and monitor the ESG performance of their portfolios, helping them make better-informed investment decisions. The platform is also integrated with the SDGs and the TCFD’s recommendations, which helps investors track their progress, accurately manage climate-related risks and opportunities and assess the impact of their investments.