Tuesday 23 October 2018

Global Compact

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10 years of 

“It is easy to mouth the words «sustainable development», but to make it happen we have to be prepared to make major changes…The sustainable development agenda is the growth agenda for the 21st century… It is time to recover that sense of living harmoniously for our economies and our societies.”

U. N. Secretary-General’s remarks to the World Economic Forum Session on Redefining Sustainable Development (Davos, Switzerland, 28 January 2011).

Taking action at global level

Since its inception, the U.N. Global Compact has asked for two central commitments by business leaders and organizations:

  • To implement the ten principles of the U.N. Global Compact; and 
  • To undertake actions in support of broader U.N. goals and issues.

The growth of the U.N. Global Compact during the past ten years certainly reflects the ever-increasing adoption of corporate sustainability principles and tenets by companies of all sizes, sectors, and regions.

Today more than 6,000 companies around the world have established commitments and policies to integrate and diffuse universal principles in the areas of human rights, labor, the environment, and anti-corruption.

The U.N. Global Compact’s ten-year experience has taught two critical lessons:

First, that advanced performance by leading companies offers crucial inspiration for those at the lower ranks in the sustainability pyramid.

Second, that a new level of performance is needed in order to address key global challenges in a world of uncertainty, complexity and volatility and to deliver on the sustainability promise.

In recognition of the above, the U.N. Global Compact Office set about to develop a Blueprint for Corporate Sustainability Leadership for the second decade of the U.N. Global Compact rooted in the realities of the coming era and based on the need to achieve higher levels of performance, impact, and collective action.

“A new level of performance is needed in order to address key global challenges and deliver on the sustainability promise.”

There is a commitment however, related to the application of the Global Compact principles that is the most challenging, to «branch out», disseminate and multiply the ten principles and relevant practices within the company’s sphere of influence.

Since 2002, when TITAN Group co-signed the U.N. Global Compact, this particular challenge was faced with joining other companies and stakeholders or even establishing with them local CSR and Global Compact networks in the countries where the Group is operating. The Hellenic Network for CSR was thus, created in 2000 and the Global Compact Network in 2007. TITAN also joined the Global Compact Network in Bulgaria in 2002, the Global Compact Network in F.Y.R.O.M. in 2008 and the one in Egypt in 2009. TITAN has also taken the initiative to create a CSR network in Kosovo.

Placing even more emphasis in stakeholder dialogue and engagement at all levels, TITAN adopted the principles of the Global Reporting Initiative (GRI) in the publication of its annual Group CSR and Sustainability Report in 2003 and participated in consultations with the Global Compact Office for the inclusion of the 10th principle against bribery and corruption, as well as the development of the «Communication on Progress» guidelines.

Recently TITAN Group participated in the formation of the Blueprint for Corporate Sustainability Leadership and in 2009 engaged in a partnership with the U.N. World Food Program for the implementation of the «Feed Minds - Change Lives» project in Egypt, aiming at combating child poverty and promoting equal opportunities as defined by U.N. Millenium Goals.

Taking advantage of the ten-year anniversary of the U.N. Global Compact Initiative in 2010, TITAN presented its first Corporate Social Responsibility Report in F.Y.R.O.M. in an open stakeholder event organized in cooperation with the United Nations Development Program (U.N.D.P). Moreover, in 2010 TITAN undertook the responsibility to chair the recently established Private Sector Advisory Group that works with the U.N. International Strategy for Disaster Reduction secretariat.

This Report is prepared to meet the new «Advanced» level criteria for the creation of Communication on Progress, set by the U.N. Global Compact Office. TITAN Group responded to the invitation of the U.N. Global Compact Office and the Report has been audited by an independent authority. (see DNV Assurance Statement).


TITAN Group pledges

Aligned with TITAN Group Values and Code of Conduct are the following pledges and international standards :

  • U.N. Global Compact
  • AA1000 Accountability Principles Standard
  • ISO 14001: 2004 Enviromental Management System Certification
  • OHSAS 18001
  • SA 8000 Social Accountability
  • GRI (reporting guidelines)
  • WBCSD/CSI (sectoral initiative)
  • E.U. Business Alliance for CSR (European initiative)

All the above are closely related to ISO 26000 CSR principles and particularly the following:

  • Accountability
  • Transparency
  • Ethical behavior
  • Respect for stakeholder interests
  • Respect for the rule of law
  • Respect for international norms and behavior
  • Respect for human rights