MSD joined a newly established local Czech Network of the largest voluntary corporate sustainability initiative UN Global Compact (UNGC). By signing UNGC, MSD made a commitment to comply with ten universal principles in areas of human rights, labor, environment and anticorruption. US affiliate of MSD is member of UNGC since 2009.
As the only pharmaceutical company, MSD was the last of twenty-four constituting members of Global Compact Network Czech Republic, established under the auspices of Asociace Společenské Odpovědnosti in the beginning of this year with the main aim to help local companies and foreign subsidiaries with adoption of ten universal principles and through the dialogue, various activities, events and shared knowledge develop and form better corporate sustainable responsibility in Czech Republic.
Since the goals of MSD and UNGC overlap, company decided to join initiative and build a corporate sustainable responsibility with globally respected mentoring that will be recognized in region. Ten universal principles that need to be covered by each member company represent important global issues in areas of human rights, labor, environment and anticorruption.
In order to put the initiative in a company practice it has to lay out five essential elements, that comprise of alignment with ten universal principles, support a local society through strategic actions, incorporation of sustainability to company’s culture, regular reporting and engagement in area of company’s presence. Failure in any of these essentials, especially in reporting can lead to expulsion from UNGC.
Launched on July, 2000, UNGC is the largest worldwide initiative that encourages an adoption of sustainable corporate and social responsibilities. It was created to support already existing agenda UN Millenium Development Goals. In UNGC are currently participating 13,000 organizations from which 8,343 are companies within 162 countries worldwide. With its public-private feature UNGC encourages common discussion on global issues between UN and government agencies, private companies and public sector. Global Compact Network Czech Republic of UNGC was established in April 2015 by signing the first Memorandum of Understanding.
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