The Mexican Stock Exchange ("BMV") announced its adhesion to the United Nations' Global Compact, with which not only will it continue with its sustainability efforts, but also will align its strategy with the ten universally accepted principles of the Global Compact. These principles include aspects such as Human Rights, Employment Standards, the Environment and Anti-corruption Policies. The intention is also to seek better access to the best practices and the learning platform offered by the Global Compact on these issues.
The UN Global Compact's ten principles:
- Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
- Principle 2: make sure that they are not complicit in human rights abuses.
- Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
- Principle 4: the elimination of all forms of forced and compulsory labour;
- Principle 5: the effective abolition of child labour; and
- Principle 6: the elimination of discrimination in respect of employment and occupation.
- Principle 7: Businesses should support a precautionary approach to environmental challenges;
- Principle 8: undertake initiatives to promote greater environmental responsibility; and
- Principle 9: encourage the development and diffusion of environmentally friendly technologies.
- Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
The United Nations' Global Compact is a call to companies all over the world to align voluntarily their operations and strategy with the ten universally accepted principles in the above-mentioned focus areas, as all as taking actions to support UN initiatives. By doing this, companies can ensure that their operations are conducted in a manner that benefits both the economies and societies throughout the world.
This platform was launched in 2000 as the largest corporate responsibility in the world that seeks the development, implementation and opening-up to corporate social responsibility policies and practices. It currently has more than 12,000 signatories in more than 150 countries and Local Networks in more than 90 countries.