Germany supports Global Compact: 500.000 EUR to advance responsible business practises
Demonstrating continued support for the world’s largest voluntary corporate responsibility initiative, Germany will be granting up to 500.000 EUR (approx. 675.000 USD) to the United Nations Global Compact over a period of two years.
An agreement outlining the terms of the grant was signed on 24 September 2010 by Georg Kell, Executive Director of the UN Global Compact Office, and Hans-Jürgen Beerfeltz, State Secretary in the German Federal Ministry for Economic Cooperation and Development. A first disbursement of up to 250.000 Euros is envisaged for 2011.
On this occasion, Mr Beerfeltz stated: “Germany has been a long-time supporter of the Global Compact´s mission of fostering a more sustainable and inclusive global economy through responsible business practises. We strive for a worldwide larger acceptance of the principles of the Global Compact. The success will depend upon its application by all relevant actors.”
Background: The initiative aims to mainstream ten universal principles in the areas of human rights, labour, environment and anti-corruption in business operations and activities around the world. In addition, the Global Compact encourages companies to engage in cross-sectoral partnerships in support of broader UN goals, particularly the Millennium Development Goals (cf. http://www.unglobalcompact.org/)