The UN Global Compact establishs 10 principles which corporates should abide by.
To date the UN record that there are 8,700 global corporate participants in 130 countries. The ten principles cover human rights, labour, environment and anti-corruption.
EIRIS Convention Watch provides a clear understanding of the many allegations made against companies in the media and through NGO campaigns. The product uses a broad framework of global conventions to analyse how well companies are upholding widely-supported principles and addressing the associated material environmental, social and governance (ESG) risks to their businesses. EIRIS monitor 3,750 companies and as part of this process will engage with companies to improve their performance.
Two examples provided by EIRIS of companies currently identified to be in breach of global conventions are:
- Walmart (in breach of the conventions on labour standards relating to anti-union activities in the USA); and
- Vedanta Resources which has faced severe criticism from investors, NGOs and activists at its annual general meeting (AGM) and is in breach of global convention on environmental, health and safety, indigenous and human rights issues.
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