In 2015 the Department of Foreign Affairs and Trade (DFAT) entered into a partnership with the Global Compact Network Australia (GCNA).
The partnership, with funding of $350,000 over two years, aims to promote GCNA’s mandate and grow its Australian membership base. This brings more Australian businesses into a network of organisations with shared beliefs that align with our interest in reducing poverty in the region. The GCNA is the Australian business-led network of the United Nations Global Compact, the world’s largest corporate sustainability initiative through which businesses commit to ten universal principles in the areas of human rights, labour rights, environmental standards and corruption prevention, and to support societal goals such as sustainable development.
This partnership will strengthen and leverage the GCNA’s convening power, strong network of companies and relationships with United Nations Global Compact Networks in the region, including in Indonesia, Bangladesh, Nepal, Burma, and Vietnam.
Under the partnership, a Sustainable Development Leadership Group will be established, which will build the understanding of Australian businesses of their role in, and the business case and value drivers for, sustainable development. It will also build the capacity of Australian businesses to engage and partner in international development activities, and to operate more effectively and responsibly in developing countries in our region.
The United Nations Global Compact has more than 8000 corporate participants in 140 countries, including 119 in Australia. GCNA members include some of Australia’s largest companies such as Westpac, Telstra, Rio Tinto, BHP Billiton, Oil Search, Visy Industries, Lend Lease, Woolworths, WorleyParsons, KPMG and PwC. Since the partnership was signed, new GCNA members include ANZ Bank, Wesfarmers, Stockland, David Jones, Deloitte and Monash University.
Further information on the GCNA and becoming a member can be found at www.unglobalcompact.org.au