Business & Money | Monday 10 October, 2016 3:11 am |

Entrepreneurs’ Organisation (EO) UAE, the local chapter of the dynamic global network of entrepreneurs, this Wednesday signed a memorandum of understanding with the UN Global Compact. The UNGC have made it their mission to make businesses around the world responsible with innovative business practices. Currently having a portfolio of 9,016 companies in 167 countries, Entrepreneurs organisation UAE can now proudly be one of these, using business as a force for good.

This MoU signifies a partnership between EO and UNGC, stating that EO will work towards getting all 70 members and their companies to do business responsibly by aligning their strategies with ten principles on human rights, labour, environment and anti-corruption and to take strategic actions to advance broader societal goals, such as the UN sustainable development goals. UNGC partnering with Entrepreneur’s organisation is a great platform to inspire, create value and make a difference, with the hope other companies in the UAE following their lead.

The ten principles are derived from: the Universal Declaration of Human Rights, the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work, the Rio Declaration on Environment and Development, and the United Nations Convention Against Corruption. The Principles are:

Businesses should support and respect the protection of internationally proclaimed human rights

 

Make sure that they are not complicit in human rights abuses

 

Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining

 

The elimination of all forms of forced and compulsory labour

 

The effective abolition of child labour

 

1. The elimination of discrimination in respect of employment and occupation

 

Businesses should support a precautionary approach to environmental challenges

 

Undertake initiatives to promote greater environmental responsibility

 

Encourage the development and diffusion of environmentally friendly technologies

 

Businesses should work against corruption in all its forms, including extortion and bribery