United Nations Global Compact is the world’s largest corporate sustainability initiative, encouraging companies to align strategies and operations with universal principles on human rights, labour, environment and anti-corruption, and take actions that advance societal goals.
WHAT IS UNITED NATIONS GLOBAL COMPACT DOING TO REDUCE THE GENDER PAY GAP?
As the world’s largest corporate sustainability initiative, anchored in the United Nations and encompassing UN principles and values, the UN Global Compact is uniquely positioned to help business deliver and scale up solutions to address global challenges, such as the widening economic gender gap.
An example of our work in this space is the Women’s Empowerment Principles (WEPs), a joint initiative with UN Women that provides a holistic framework for business to advance gender equality across its operations and value chain, i.e. in the workplace, marketplace and community. Principle 2 of the WEPs in particular sets out a commitment from companies to work towards providing an inclusive, equal-opportunity workplace that is free of discrimination, including on payment of remuneration and benefits.
As part of our efforts to advance the WEPs and the mission of EPIC, we plan to use our newly-launched learning platform for sustainable companies – the UN Global Compact Academy – to bring practical information and expert guidance to business on narrowing the gender pay gap. We will also work towards informing and equipping our 70+ Local Networks around the world to mobilize business globally on this issue.
IN WHAT WAY CAN EPIC BE RELEVANT FOR UNITED NATIONS GLOBAL COMPACT?
As a multi-stakeholder initiative, EPIC provides access to an invaluable network of support and expertise that the UN Global Compact can leverage and amplify for galvanizing private sector action on achieving equal pay.
As a member of EPIC, the UN Global Compact looks forward to being part of a network of highly-engaged stakeholders that can leverage their collective capacity to drive progress towards the realization of the Sustainable Development Goals (SDGs) and accelerate the pace on achieving gender equality and women’s empowerment.