(New York, 30 January 2007) – An unprecedented 428 business participants of the UN Global Compact issued a Communication on Progress (COP) in the last quarter of 2006 – a dramatic increase compared to 2005, when only 70 companies submitted their COP between October and December. This last quarter surge in submissions brings the total of COPs received by the Global Compact Office in 2006 to 927– an increase of 41 percent over 2005. Both figures are the highest ever recorded by the Global Compact Office.
“We are excited that a growing number of companies are finding value in communicating their progress,” said Georg Kell, Executive Director of the Global Compact. "We are especially pleased that the efforts of the local Global Compact networks in supporting their participants led to such great results.”
To ensure the integrity of the initiative, all companies participating in the Global Compact are expected to develop an annual COP which describes the ways in which they are implementing the initiative’s ten principles. Companies that do not communicate their progress are marked as “non-communicating” on the Global Compact website and those that fail to communicate for two years in a row become inactive. Inactive participants are identified on a separate list and are not allowed to participate in any of the events organized by the Global Compact Office throughout the year.
In 2007 the Global Compact Office plans not only to continue to improve the process and technology related to the COP, but also produce tools and trainings and simplified guidance in order to support the work of Global Compact participants.
“COPs are a great source of information for financial analysts, civil society organizations and other stakeholders,” said Jeff Senne, COP Manager in the Global Compact Office. “We firmly believe that public accountability and transparency are crucial to any company’s efforts to manage risks and opportunities, and we are increasingly impressed with the quality of information contained within the COPs we receive.”
For more information please visit the COP section on the Global Compact Website: http://www.unglobalcompact.org/CommunicatingProgress/index.html.