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Spanish Subsidiaries Deepen Engagement in the Global Compact

(New York, 19 September 2007) – Eleven subsidiaries of Spanish multinational corporations operating in Peru jointly signed on to the Global Compact in a ceremony on 13 September in Lima. Through actively participating in the Global Compact’s Local Network in Peru, the companies will work collectively to advance the initiative’s ten principles in the country. 

The joint initiative follows recommendations presented in the Buenos Aires Declaration which was presented at the Global Compact Leaders Summit in July 2007. The declaration encourages multinational corporations participating in the Global Compact to extend corporate citizenship practices and policies to their subsidiaries.

The September 13th signing ceremony was co-chaired by Jaime Cáceres Sayán, the Chairman of the National Confederation of Private Enterprises (CONFIEP), Diego de la Torre, the Chairman of the Peru Global Compact Local Network, and Jorge Chediek, the Resident Coordinator of the United Nations system in Peru.

Highlighting the importance of the Global Compact Local Network in enhancing the collaboration between CONFIEP and the United Nations system in Peru, Mr. Sayán said: “This alliance has allowed a deeper and more direct interaction between the local business community and United Nations. The result is a growing number of joint calls, events, programs and activities.”

The following Peruvian subsidiaries joined the Global Compact: Telefónica del Perú, Meliá, Abengoa, Santillana, Telefónica Móviles, KIA, Avanzit, Cobra Perú, Lorente y Cuenca, Certicom and Redesur. The event was organized with the special support of the Spanish Chamber of Commerce.

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Manuel Escudero