Global Compact
OSRAM has a long tradition of acting socially and environmentally responsible. Therefore it was natural for OSRAM to join the UN Global Compact to affirm these values and work towards making them universally accepted throughout the world.
What is the Global Compact?
The UN Global Compact is a framework for businesses that are committed to values beyond mere profit. The Global Compact sets forth principles that it asks companies to embrace, support and enact within their sphere of influence. It was initiated by former UN General Secretary Kofi Annan and was emphatically reaffirmed by present UN General Secretary Ban Ki-moon.
The Global Compact's ten principles in the areas of human rights, labor, the environment and anti-corruption enjoy universal consensus and are derived from:
• The Universal Declaration of Human Rights
• The International Labor Organization's Declaration on Fundamental Principles and Rights at Work
• The Rio Declaration on Environment and Development
• The United Nations Convention Against Corruption
As the world's largest global corporate citizenship initiative, the Global Compact is first and foremost concerned with exhibiting and building the social legitimacy of business and markets.
Communication on Progress
Actions speak louder than words – following this motto, companies participating in the Global Compact commit to producing an annual Communication on Progress (COP). The COP is a communication tool to update stakeholders (consumers, employees, organized labor, shareholders, media, government…) on the progress the company has made in implementing the ten principles in its business activities and, where appropriate, in supporting UN goals through partnerships.
