Former UN Secretary-General Kofi Annan came up with the idea of a Global Compact between industry, institutions and civil society. The underlying aim is to overcome the challenges of globalization together. Participants commit to promoting human rights, labor standards, environmental protection and anti-corruption measures. Since its launch in 2000, the Global Compact has become the world’s largest initiative for sustainable development – with over 8,700 corporate participants and stakeholders from over 130 countries.
WACKER joined in 2006. Member companies commit to implementing the Global Compact’s ten principles, which are derived from the Universal Declaration of Human Rights, the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work, and the Rio Declaration on Environment and Development.
- Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights within their sphere of influence, and
- Principle 2: make sure that they are not complicit in human rights abuses.
- Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining,
- Principle 4: the elimination of all forms of forced and compulsory labor;
- Principle 5: the effective abolition of child labor, and
- Principle 6: the elimination of discrimination in respect of employment and occupation.
- Principle 7: Businesses should support a precautionary approach to environmental challenges,
- Principle 8: undertake initiatives to promote environmental responsibility, and
- Principle 9: encourage the development and diffusion of environmentally friendly technologies.
- Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
All our employees are required to observe our Code of Conduct, which obligates them to observe social and ethical standards, to obey the law and to act responsibly toward the environment.