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UN Global Compact
SKAGEN Funds has become a signatory of the world's largest corporate sustainability initiative, the UN Global Compact.
By joining, SKAGEN commits to adapting its operations and strategy to the UN's global framework for sustainable companies. The framework is based on ten principles relating to the environment, human rights, labour law issues and anti-corruption.
1. Support and respect international human rights within the company's influence
2. Ensure that one's own organisation is not involved in human rights violations
3. Maintain freedom of association and recognise the right to collective bargaining
4. Eliminate all forms of forced labour
5. Abolish child labour
6. Eliminate discrimination in recruitment and work tasks
7. Support the precautionary principle with regard to environmental risk
8. Strengthen environmental awareness
9. Encourage the development of environmentally friendly technology.
10. Counter all forms of corruption, including extortion and bribery
It was during the World Economic Forum in 1999 that the then UN Secretary-General Kofi Annan initiated the Global Compact to get the business community involved in UN issues and take global responsibility. The following year, the proposal was officially launched. Today, the UN Global Compact is the world's largest business sustainability initiative, with over 13,000 member companies and organisations from over 170 countries.
As a signatory, SKAGEN commits to actively working with sustainability issues and reporting the work annually to the UN. Membership also includes a responsibility to promote the UN's 17 goals for sustainable development, known as the Global Goals.
Read more about the UN Global Compact.