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Pasha Sigorta joins United Nations Global Compact

25 June 2009 16:09 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-Economics. Azerbaijan-based Pasha Sigorta Insurance Company has joined the United Nations Global Compact, an United Nations initiative to encourage businesses worldwide to adopt sustainable and socially responsible policies, and to report on their implementation.

The company said its participation is approved by the UN headquarters.

The Global Compact is a principle based framework for businesses, stating ten principles in the areas of human rights, labour, the environment and anti-corruption. Under the Global Compact, companies are brought together with UN agencies, labour groups and civil society.

The Global Compact was first announced by the then UN Secretary-General Kofi Annan in an address to The World Economic Forum on January 31, 1999, and was officially launched at UN Headquarters in New York on July 26, 2000.

The UN Global Compact is the world’s largest corporate citizenship and sustainability initiative. Since its official launch on 26 July 2000, the initiative has grown to more than 6200 participants, including over 4700 businesses in 120 countries around the world. It is a network-based initiative with the Global Compact Office and six UN agencies at its core.