The Global Compact The Global Compact is a voluntary initiative that seeks to advance universal principles on human rights, labour, environment and anti-corruption through the active engagement of the corporate community, in cooperation with civil society and representatives of organized labour.
Project financing plays an important role in financing development throughout the world. In providing financing, particularly in emerging markets, project financiers often encounter environmental and social policy issues. We recognize that our role as financiers affords us significant opportunities to promote responsible environmental stewardship and socially responsible development.
Goldman Sachs Environmental Policy Framework Goldman Sachs believes that a healthy environment is necessary for the well-being of society, our people and our business, and is the foundation for a sustainable and strong economy. Goldman Sachs recognizes that diverse, healthy natural resources - fresh water, oceans, air, forests, grasslands, and agro-systems - are a critical component of social and sustainable economic development. We recognize that as a global company we have an impact on the environment through the goods we purchase, the manufacturing and production we finance, and the investments we make.
It is a debilitating and agonizing disease that affects more than 18 million people, many of them in Africa and Latin America. Worldwide, as many as 120 million people may be at risk for the disfiguring skin infections, painful eye lesions and eventual loss of sight caused by onchocerciasis, or “river blindness.”
In the 1980s, Merck discovered that the drug Mectizan (ivermectin) had potential for use in humans infected with the parasite that causes river blindness.
In 1987, Merck established the Mectizan® Donation Program to help deliver Mectizan to populations facing a significant public health threat from this disease.
Treatment programs now exist in 34 countries in Africa, Latin America and in Yemen in the Middle East, and more than 40 million people receive Mectizan to treat river blindness each year.
Chiquita supplies nearly 25% of the bananas consumed in North America and Europe.
In 1992, Chiquita teams up with the Rainforest Alliance and voluntarily invests $20 million for capital improvements to farms.
By 2000, 100% of Chiquita’s farms met Rainforset Alliance social and economic standards. Today, More than 160 banana farms were certified, covering 120,000 acres in Ecuador, Colombia, Panama, Guatemala, Honduras and Costa Rica.
Chiquita protects significant swaths of rainforest, recycles or reuses nearly 80 percent of the plastic bags and twine used and has reforested more than 2,500 acres with nearly 800,000 trees and bushes.
Beyond Grey Pinstripes Beyond Grey Pinstripes , a biennial ranking of business schools, shines a spotlight on exceptional full-time MBA programs and faculty at the forefront of incorporating issues of social and environmental stewardship into the fabric of their business curricula and research. These programs and pioneering faculty are preparing students for the reality of tomorrow’s markets, equipping them with an understanding of the social, environmental, and economic perspectives required for business success in a competitive global economy.
A free service of the Aspen Institute Business and Society Program. CasePlace offers a wide range of business education materials in social impact management, sustainability and business ethics. The site contains cases and teaching notes, teaching modules, journal articles, course syllabi, books, conference announcements, current events and more!
The results of these various activities have begun to produce some significant changes among Nike suppliers
Not all of Nike’s critics are convinced though
Nike’s continuing controversy over its various activities are not in any way particular to Nike - they are reflective of much broader debates about the definition of corporate citizenship and the process of globalization
Nike recognizes its responsibility to its shareholders (financially) and its employees (labor laws, minimum wage, etc.). What type of ethical and legal obligations does Nike have to the employees of their suppliers and subcontractors?
Because there are no laws requiring corporations to promote standards as rigorously as Nike does, what can be done to encourage other businesses who outsource their production to encourage their suppliers and subcontractors to act responsibly?
If some companies promote and monitor for higher standards and others do not, it’s possible that these “good” corporate citizens might lose their competitive edge. What if being a good corporate citizen causes a company to go out of business?
Corporate decision making is driven, to different extents by various stakeholders (shareholders, the environment, employees, local communities, etc.). How does one measure and account for these competing priorities? Which stakeholders do corporations have an obligation to consider, and why?
Who should be responsible, if anyone, for developing labor, environmental and health standards? National governments, intl. organizations, NGO’s, or local trade unions? Why not the free market itself? Or perhaps a combination?