The United Nations Global Compact is the world’s largest corporate sustainability initiative, with more than 20,000+ participant companies globally. The Ten Principles of the UN Global Compact in the areas of Human Rights, Labour, Environment and Anti-corruption in alignment with the Sustainable Development Goals (SDGs) embed sustainability into business operations and their value chains.

Amidst a volatile business landscape, the UN Global Compact Network Sri Lanka (Network Sri Lanka) is empowering companies to set and achieve ambitious sustainability goals that drive long-term value creation. Through its innovative global Accelerator programmes and localised ‘Working Groups’, the organization provides a robust framework for businesses to learn from experts, define purposeful targets, align sustainability strategies, share experiences, and work towards common goals with collective problem-solving.

The Accelerators are multi-month corporate capacity development programmes conceptualised and developed by the UN Global Compact together with global experts, and delivered to participant companies across the world by local and regional specialists in key focus areas.

Rathika de Silva, the Executive Director of Network Sri Lanka, stresses, “These Accelerators are developed to guide businesses to set ambitious targets for high performance and are successfully run across many country networks. Advising businesses to join and reap benefits he says, “Allocating the right people and the right resources Is key to gain the maximum benefit, efficiency, the effectiveness.”

Currently, four Accelerator programmes are offered to Participant companies of Network Sri Lanka being Business and Human Rights Accelerator, Climate Ambition Accelerator, Target Gender Equality Accelerator and the SDG Innovation Accelerator. The Accelerators are exclusively for UN Global Compact Participant companies.

Sign up for the third round of its Business and Human Rights (BHR) Accelerator is now open with a deadline of December 2024. This important initiative offers companies a unique opportunity to advance their human rights practices through a comprehensive six-month journey

. Expert-led sessions, peer-to-peer learning, and tailored guidance help participants enhance their human rights due diligence processes. The programme will also address the Corporate Sustainability Reporting Directive (CSRD), a crucial development in corporate responsibility. Including CSRD in the curriculum, the accelerator demonstrates a commitment to keeping participants informed about the latest global standards and reporting requirements.

The ‘Climate Ambition Accelerator’ supports companies in aligning their business strategies with the Paris Agreement’s goal of limiting global warming to 1.5°C. Through a six-month programme, participants are guided in setting science-based emissions reduction targets and charting a path towards net-zero emissions. Today, over 35 Sri Lankan companies have actively participated in this Accelerator, demonstrating a growing commitment to climate action. Inviting more companies, Lucas Ribeiro, Climate Ambition Accelerator Lead, United Nations Global Compact says, “The transition to a net- zero economy will happen whether you like it or not…be part of the early movers to be part of this transformation.”

Dilhan Fernando, Chairman of UN Global Compact Network Sri Lanka, explains the importance of collaboration says, “The team has produced extraordinary results through the working groups, helping our colleagues to understand how we can navigate challenges of supply chain to build resilience. And as UN Global Compact, we have the benefit of learning from around the world.”

Recognizing the value of diverse perspectives, the ‘Gender and Diversity Working Group’ explores ways to foster a more inclusive and equitable workplace. With the participation of 24 companies, the group plans to address in 2024 issues such as female representation in STEM roles, equal pay for equal work and unconscious gender bias in the work place.

For more information engaging with UN Global Compact and Network Sri Lanka, corporates may contact Network Sri Lanka via chamath@ungcsl.com or on +94 77 066 8705