In August this year our company has become a participant of the United Nations Global Compact, which has been another way to express our commitment to corporate social responsibility, based on universal social, ethical and ecological principles, built in milestones of our strategy and endeavours in business fields.
The United Nations Global Compact is the world’s largest voluntary initiative of the companies that share common conviction that business practices, rooted in universal principles of social responsibility, contribute to a more stable global market and help build prosperous and thriving social communities.
With more than 7,500 business in 145 countries, as well as 4,000 non business participants, the Global Compact has a true global presence (source: UN Global Compact Global Corporate Sustainability Report 2013).
A unique feature of the Global Compact is that participation not only commits the company as a whole, but specifically its leadership. The personal involvement of a top executive is an important signal to employees and other stakeholders that the company’s corporate citizenship engagement is a strategic and operational priority. A top-down commitment can thus have tremendous influence on the quality of Global Compact implementation.
Additionally, the companies that have signed on to the Global Compact commit to implementing the ten Global Compact principles which are presented in the table below and refer to a long-term process of continuous performance improvement. The company’s performance alignment with the ten Global Compact principles is communicated annually to the stakeholders to ensure the principles full implementation as well as the company’s engagement with the stakeholders.
The ten UN Global Compact’s principles enjoy universal consensus since they 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
- The United nations Convention Against Corruption
Titan Group is among the first Global Compact signatories worldwide, having signed the Compact and practically participating since 2002, being committed to follow these principles wherever the Group operates. Titan Group has reached the “advanced” level according to the Global Compact criteria for the communication of the company’s performance and practices against the Global Compact principles.