The number of companies joining a U.N. corporate responsibility initiative grew 30 percent last year.
Nearly 1,500 global businesses signed on to the United Nations Global Compact in 2008, signaling the growing interest of businesses that want to align their practices with the initiative's environmental, social and governance principles.
Though interest is up, progress in integrating the principles beyond corporate headquarters lags, according to the Global Compact's annual report. The voluntary initiative, launched in 2000, encourages businesses to enact policies that reflect its 10 human rights, labor, environment and anti-corruption principles. Members must also report on their implementation.
Just 7 percent of the 700-plus respondents in the annual survey require Global Compact participation when selecting suppliers. About a third said they extend their commitment to the Global Compact to their subsidiaries.
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