Search results

1 – 10 of over 6000
Book part
Publication date: 13 April 2015

Maria Alejandra Gonzalez-Perez and Liam Leonard

This chapter examines roles and challenges for corporations in addressing Post 2015 world development objectives. Specifically it does review the contributions and…

Abstract

Purpose

This chapter examines roles and challenges for corporations in addressing Post 2015 world development objectives. Specifically it does review the contributions and opportunities of the principles of the Global Compact and other social responsibility initiatives for embedding corporate contribution to sustainable markets and societal development.

Methodology/approach

The results presented in this chapter are based on analysis of secondary sources and a literature review to determine conceptual and theoretical frameworks for identifying assumptions and challenges of corporate sustainability in the Post 2015 era.

Findings

It was found that although there are neither academic nor activist definitive consensuses regarding positive impacts of adopting the UN Global Compact principles for sustainability, the impacts of committed corporations, organisations and association are multiplying societal understanding of the implications in societies, governments and markets of violating human and labour rights, degrading and not protecting the environment, and having corruption.

Practical implications

This chapter could be used as teaching material for undergraduate and master courses of corporate social responsibility, business ethics, sustainability, operations management and strategy.

Originality/value

This chapter discusses firms’ responsibilities regarding world development objectives in a Post 2015 world.

Details

Beyond the UN Global Compact: Institutions and Regulations
Type: Book
ISBN: 978-1-78560-558-1

Keywords

Article
Publication date: 9 August 2008

Jorge A. Arevalo and Francis T. Fallon

The changing nature of the interaction between multilateral institutions and the private sector, such as the one extended by the United Nations (UN) through the Global

3265

Abstract

Purpose

The changing nature of the interaction between multilateral institutions and the private sector, such as the one extended by the United Nations (UN) through the Global Compact, has raised profound questions about authority and legitimacy in international relations. This paper seeks to provide the criteria for fairly assessing corporate citizenship initiatives as these form an integral part of the changing nature of corporate governance.

Design/methodology/approach

This paper uses the Global Compact's 2007 annual review as a point of reference and critical evaluation. The paper refers to the gap found among participants and their inability to answer to the relevant questions of corporate social responsibility (CSR) as originally set forth by the UN.

Findings

There has been a substantial increase in both scale and impact by this type of private sector initiative: a 50‐fold growth in just seven years – unlike any other international collaborative partnership. Based on the assessment, the ongoing question regarding its legitimacy, its operationality and efficiency for improving global governance still remains a challenge at large.

Originality/value

Empirical research on the impact, accountability, challenges and successes of the Global Compact is limited. The aim of this study is to progress understanding of both the limitations on, and opportunities for, the role of business in global governance when CSR is used as an international tool for community involvement. To this end, in addition to a critique of the UNGC's self‐assessment, the paper proposes a researcher's model for assessing corporate citizenship initiatives.

Details

Corporate Governance: The international journal of business in society, vol. 8 no. 4
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 7 August 2009

L. Simone Byrd

This purpose of this paper is to examine how two, American‐based, international public relations agencies came to participate in the United Nations Global Compact. The…

2253

Abstract

Purpose

This purpose of this paper is to examine how two, American‐based, international public relations agencies came to participate in the United Nations Global Compact. The global compact is an initiative which brings together more than 4,000 member organizations in over 100 countries to address some of the world's most pressing issues. Specifically, this paper seeks to identify: the events that prompt these senior‐level executives, as members of their agency's dominant coalition, to initiate participation in the global compact; what obstacles within the agency present challenges to joining the global compact; and how each agency integrates the compact principles into its work.

Design/methodology/approach

Grunig's situational theory of publics is used as a framework to create a single, embedded case study which integrates three subunits of analysis: in‐depth interviews, and primary and secondary document analysis. In‐depth interviews are conducted with one senior‐level executive/counselor from each of the two agencies that are examined. Primary document analysis focuses solely on the Communication on Progress reports which must be submitted on a bi‐annual basis by every global compact participant. Secondary document analysis includes any agency‐produced materials, such as speeches/presentations, as well as articles written for business publications.

Findings

Overall, results indicate that both agencies have yet to fully integrate the compact principles into their own internal functions, and primarily use the global compact as a tool for counseling clients. However, both agency executives reveal that it is going to become necessary for their agency to involve themselves in the global compact, within and across the entire agency – particularly in terms of confronting issues such as ethics and diversity.

Originality/value

This paper adds to the existing scholarship in a few, important ways. First, it incorporates and encourages the continued use of qualitative methods to examine contemporary issues that face the practice of public relations. Second, this research establishes an argument for furthering the idea that public relations professionals can be advocated for social change and can be influenced through the work they do. Finally, this paper stresses the continued importance of public relations work in facilitating global citizenship initiatives.

Details

Corporate Communications: An International Journal, vol. 14 no. 3
Type: Research Article
ISSN: 1356-3289

Keywords

Article
Publication date: 23 March 2020

Kalle Johannes Rose

Recent research has emphasized the need for engaging non-financial companies in combating money laundering for the efforts to be efficient and effective. To incentivize…

Abstract

Purpose

Recent research has emphasized the need for engaging non-financial companies in combating money laundering for the efforts to be efficient and effective. To incentivize engagement, several options are available, such as regulation, voluntary disclosure or commitment to international principles such as the United Nations (UN) Global Compact. The purpose of this paper is to analyze how anti-money laundering fits the aim of the UN Global compact and how anti-money laundering can support the other principles of the UN Global Compact. Furthermore, this paper addresses the necessity to include anti-money laundering in the core principles to reach the overall goal of sustainability by the UN Global Compact. Such an inclusion will incentivize the signatories of the UN Global Compact to include anti-money laundering as a part of their social responsibilities, helping the financial sector in combating money laundering.

Design/methodology/approach

The methodology of this paper is a functional approach to law and economics. It seeks to enhance the efficiency of the regulatory framework combating money laundering by including economic incentive theory and addressing new areas of law.

Findings

The paper finds a strong relationship between the UN Global Compact and anti-money laundering. Furthermore, it is concluded that it is necessary to include anti-money laundering as a core principle in the UN Global Compact if the Global Compact is to be efficient and effective in terms of its sustainability goals. The reason being that money laundering to a great extent supplies operational finances to the illegitimate sector related to core issues of the UN Global Compact such as human trafficking, child labor and corruption.

Originality/value

The paper identifies a significant missing element with regard to the core principles of the UN Global Compact. Although most research within anti-money laundering concerns the financial sector and thereby does not address the UN Global Compact, the focus of this paper is the link between anti-money laundering and the UN Global Compact. Furthermore, most research related to the UN global compact does not connect the core principles to the illegal financing of the businesses contradicting the principles. This paper addresses both of the neglected areas and combines them to improve the overall combating of money laundering while supporting the UN Global Compact sustainability goal.

Details

Journal of Money Laundering Control, vol. 23 no. 2
Type: Research Article
ISSN: 1368-5201

Keywords

Book part
Publication date: 28 January 2015

Juan Carlos Diaz Vasquez, Jaime Alberto Ospina Gallo and Margarita María Montoya Peláez

The purpose of this chapter is to describe the First Contact Pilot Program carried out in collaborative work between ISAGEN, a partly government-owned firm within the…

Abstract

Purpose

The purpose of this chapter is to describe the First Contact Pilot Program carried out in collaborative work between ISAGEN, a partly government-owned firm within the energy sector, and Universidad EAFIT, a private university in the city of Medellin.

Design/methodology/approach

The First Contact Pilot Program was developed following an existing model implemented at the Universidad Externado de Colombia, a private university located in Bogotá. Nevertheless this pilot program took methodology elements from ISAGEN and its suppliers relationship policy. Additionally content concerning the Global Compact and its principles was provided within the subject “Senior Seminar.” Students from this subject were voluntary participants in the pilot program.

Findings

The chapter provides a brief survey conducted by ISAGEN wherein some findings are visible. In this survey the First Contact Pilot Program participating entrepreneurs were asked about their motivations in order to voluntarily be part of the program and they recognized the great importance of this initiative for their businesses to change lots of practices and to become part of a global market culture.

Research limitations/implications

This first version of the program was at the same time a way to invite other big organizations in the city of Medellin to take part in such activities. Massive participation, not only from the big players but also from small and medium enterprises, is necessary to achieve the goal of spreading the Global Compact’s principles. In the longer run it assures the creation of a fairer market place where all players in all sizes contribute to respect and promote a core of best practices in business.

Practical implications

One of the most remarkable implications by designing and implementing the pilot program was the fact of having interactions between International Business Students and local small and medium firm managers together talking about the Global Compact and the way it may improve many aspects within the firm and toward stakeholders.

Originality/value of the chapter

A particular feature of this chapter to be considered as original and valuable is the establishing of networks for the dissemination of the Global Compact’s principles. Collaborative work among private and public sectors and with higher education institutions in fostering the transformation of business practices to achieve a fairer global market place constitutes the aim of this particular pilot program. At the same time this pilot program embodies the spirit of the UN PRME in giving the students of International Business the opportunity to develop their capabilities to become the future managers aware of the sustainability value for business.

Details

The UN Global Compact: Fair Competition and Environmental and Labour Justice in International Markets
Type: Book
ISBN: 978-1-78441-295-1

Keywords

Book part
Publication date: 28 January 2015

Harish C. Chandan

This chapter discusses how businesses can create alignment between their corporate sustainability (CS) efforts that focus on the triple bottom line of the financial…

Abstract

Purpose

This chapter discusses how businesses can create alignment between their corporate sustainability (CS) efforts that focus on the triple bottom line of the financial, environmental, and social, and the 10 principles of the UN Global Compact in the four core areas of environment, human rights, labor standards, and anticorruption.

Design/methodology/approach

Based on the literature review, the relationship between CS and corporate responsibility is presented. Creating alignment between CS management and Global Compact initiatives requires knowledge of the Global Reporting Initiative (G4-GRI), third-party CS rankings, green supply chain management, and anticorruption strategies.

Findings

UN Global Compact is an international forum to promote and self-report CS and corporate social responsibility [Bitanga & Bridwell, 2010. CS is achieved through a triple bottom line – financial, environmental, and social (Hutchins & Sutherland, 2008). For CS management, businesses use four strategies including defensive, cost-benefit, strategic, and innovation/learning [Buchholtz & Carroll, 2008; Egbeleke, Journal of Management and Sustainability, 4(2), 92–105 (2014); Epstein, 2008; Epstein, Buhovac, & Yuthas, 2010]. The UN G4-GRI is the most widely used comprehensive sustainability reporting standard in the world (G4-GRI, 2013). Third-party, industry sector-specific CS ratings reinforce the self-reported sustainability reports. Each firm has to conduct their own CS cost-benefit analysis to determine how CS practices can lead to value creation for sustained competitive advantage. Creating alignment with Global Compact initiatives offers firms a marketing advantage. Conducting business in accordance with the Global Compact is a value-increasing business strategy [Kaspereit & Lopatta, 2011; Lopatta & Kaspereit, 2014; Michelon, Corporate Reputation Review, 14(2), 79–96 (2011)]. Green supply chain management is essential for CS (Penfield, 2014). Four prevailing anticorruption frameworks or intervention policy approaches include law enforcement, economics, moralism, and cultural relativism (Bellows, 2013). There is little sustainability reporting in the government and public-sector organizations (Adams, Muir, & Hoque, 2014).

Research limitations/implications

It is difficult to quantify the financial and social benefits of aligning the CS efforts with the 10 principles of UN Global Compact [Parisi, Journal of Management and Governance, 17(1), 71–97 (2013); Nilipour & Nilipour, Interdisciplinary Journal of Contemporary Research in Business, 3(9), 1084–1092 (2012)]. The environmental impact can be easily quantified.

Practical implications

As the primary driver of globalization, businesses and other organizations can help ensure that markets, commerce, technology, and finance advance in ways that benefit environment, economies, and societies in both developed and developing countries leading to sustained development.

Originality/value of the chapter

The role of green supply chain management and anticorruption strategies in CS management is explored.

Details

The UN Global Compact: Fair Competition and Environmental and Labour Justice in International Markets
Type: Book
ISBN: 978-1-78441-295-1

Keywords

Book part
Publication date: 28 January 2015

Alice de Jonge

The chapter aims to clarify the relationship between corporate governance structure and corporate subscription to Global Compact standards. Part one of the chapter looks…

Abstract

Purpose

The chapter aims to clarify the relationship between corporate governance structure and corporate subscription to Global Compact standards. Part one of the chapter looks at the relationship between different models of board governance and active Global Compact participation by publicly listed companies. Part two of the chapter examines a number of external mechanisms aimed at bringing corporate behavior in line with Global Compact principles, and argues that there is a mutually reinforcing relationship between internal governance structures and external provisions aimed at influencing corporate behavior.

Design/methodology/approach

Part one of the chapter uses an independent T-test to compare the average (mean) proportion of publicly listed companies from unitary board countries with an active Global Compact Communication on Progress status with the average proportion of publicly listed companies from two-tier/hybrid corporate governance systems listed as active Global Compact participants. Part two of the chapter uses primary and secondary sources to examine external mechanisms operating across national borders aimed at influencing corporate behavior.

Findings

The chapter finds that a higher proportion of public companies from countries with two-tier/hybrid corporate governance structures have become active Global Compact participants compared to public companies from legal systems with unitary board corporate governance structures. Part two of the chapter examines the potentially mutually reinforcing relationship between internal governance structures and external mechanisms for modifying corporate behavior.

Research limitations/implications

While external codes and standards such as the UN Guiding Principles on Business and Human Rights and the OECD Guidelines for Multinational Enterprises appear to be influencing corporate behavior worldwide, quantitative data confirming and recording the extent and nature of this influence (if any) remains limited.

Practical implications

The chapter provides useful insights for policy makers and corporate leaders into the relationship between internal corporate governance structures and external codes, standards and guidelines aimed at influencing corporate behavior.

Originality/value of the chapter

This chapter provides original insights into whether and how internal governance structures can complement and reinforce social standards regarding global corporate citizenship, and the legal guidelines reflecting those standards.

Details

The UN Global Compact: Fair Competition and Environmental and Labour Justice in International Markets
Type: Book
ISBN: 978-1-78441-295-1

Keywords

Book part
Publication date: 28 January 2015

Emel Esen

The United Nations Global Compact is a voluntary initiative in four areas as human rights, labor, environment, and anticorruption with 10 universal principles. This…

Abstract

Purpose

The United Nations Global Compact is a voluntary initiative in four areas as human rights, labor, environment, and anticorruption with 10 universal principles. This network brings corporations, nongovernmental organizations, employees, and people together. There is a need to have responsible and committed leaders to promote good corporate citizenship in the framework of Global Compact. Leaders have a unique position through which they can influence factors concerning organizations’ and employees’ behavior. According to the areas of UN Global Compact, some leadership styles seem to better suit to benefit economies, societies, markets, and people all over the world than the others. By this way, from the theoretical perspectives, the primary purpose of this chapter is to investigate the leader’s behavior and different leadership styles in organizations that are the part of Global Compact platform. There are certain leadership theories – transactional, transformational, sustainable, ethical, and servant – which are examined in Global Compact initiatives.

Design/methodology/approach

An extensive literature research is conducted in order to understand the different types of leadership styles while organizations are adapting and understanding the Global Compact principles.

Findings

Modern leadership styles especially ethical leadership behavior should be effective to comply with universal principles and organizations can also have commitment to disclose a report with powerful leadership.

Research limitations/implications

However, this research is a theoretical study; for further studies, longitudinal studies can be conducted to understand the leadership styles from the perspective of Global Compact principles, and these different managers’ behaviors can be measured.

Practical implications

This study may be useful for the board of directors and managers since they should participate and adapt themselves to this initiative about how they should behave in the right way.

Originality/value

There is a lack of behavioral studies while analyzing Global Compact principles. Especially examining leadership theories that are complied with these principles will add a value to the literature in this area.

Details

The UN Global Compact: Fair Competition and Environmental and Labour Justice in International Markets
Type: Book
ISBN: 978-1-78441-295-1

Keywords

Article
Publication date: 9 November 2015

Barry Oliver, Blanca Pérez-Gladish and Paz Méndez-Rodríguez

The purpose of this paper is to identify whether the Spanish stock market experiences a negativity effect on the announcement of Spanish consumer sentiment information and…

Abstract

Purpose

The purpose of this paper is to identify whether the Spanish stock market experiences a negativity effect on the announcement of Spanish consumer sentiment information and if firms that are signatory to the UN Global Compact on corporate social responsibility are relatively more salient in the minds of investors.

Design/methodology/approach

The authors use consumer sentiment announcements to show how the negativity effects on the Spanish stock market are significantly influenced by how salient the stock is in the minds of investors. If a firm’s stock exhibits negativity effects on the release of consumer sentiment information then this stock is salient to investors. If firms who are signatory to the UN Global Compact exhibit significant negativity effects, it could be concluded that these stocks are salient, particularly if firms that are not signatory to the Global Compact do not exhibit a similar negativity effect.

Findings

The IBEX35 index experiences significant negativity effects upon the release of Spanish consumer sentiment announcements. This is similar to that reported in other countries, notably Australia and the USA. Using the constituent firms in the IBEX35 index, the authors find that those firms that are signatory to the UN Global Compact are significantly more likely to experience negativity effects upon the release of Spanish consumer sentiment information than if they are not signatory to the Global Compact. This indicates that firms that are part of the UN Global Compact are more salient to investors.

Research limitations/implications

Available published Spanish data on consumer sentiment.

Practical implications

Little is understood of the impact that consumer sentiment announcements have on stock prices. Studies in USA and Australia have identified significant negativity effects in stock markets when consumer sentiment information is released. This research has found that a psychological negativity bias occurs in firms that are salient to investors. Salience has been found to be important in asset pricing.

Originality/value

This paper tries to find out which companies are more likely to sign the UN Global Compact. These companies are more sensitive to consumer sentiment, because they depend on the everyday decisions of the consumers. The more the companies depend on consumers, the more they care about them. And, when the consumer sentiment goes down, they are more affected by this sentiment. These firms are also more worried about the long term. They are not only thinking about the profits in the short term but also about maintaining the generation of profits in the long term.

Details

Review of Behavioral Finance, vol. 7 no. 2
Type: Research Article
ISSN: 1940-5979

Keywords

Book part
Publication date: 26 November 2021

Luis Velazquez

To perform a detailed analysis of the inherent complexities in achieving the 9th Sustainable Development Goal (SDG), it is necessary to understand the procedures used by…

Abstract

To perform a detailed analysis of the inherent complexities in achieving the 9th Sustainable Development Goal (SDG), it is necessary to understand the procedures used by member states delegations to follow-up and review the progress made in implementing the SDGs and targets as mandated in the A/RES/70/1 Resolution adopted by the General Assembly on September 25, 2015 (U.N. General Assembly, 2015); best known worldwide as ‘Transforming our world: the 2030 Agenda for Sustainable Development’. Hence, this chapter aims at providing an overview of sustainability reporting practices to the U.N. High-level Political Forum on Sustainable Development (HLPF). It starts by reflecting on the U.N. landmark events from which the 2030 Agenda emerged and the political and cultural context prevailing at that time. Afterward, it argues on the guidance documents issued by HLPF for following up and reviewing individual countries’ progress. The most controversial issue covered in this chapter undoubtedly concerns information gathering. This issue is because stakeholders consistently question the accuracy of data being provided, not only on Voluntary National Reviews (VNRs) but also on corporate sustainability reports. Therefore, the chapter also covers the guidelines of independent external organisations such as the Global Compact Initiative (GCI) and Global Reporting Initiative (GRI) used by firms to legitimate sustainability reporting content and increase reliability. Finally, this chapter concludes with a brief description of required procedures to submit and present VNRs.

1 – 10 of over 6000