ESG

EQT and GlobalConnect double down on sustainability

Eric Elzvik 2.jpg

GlobalConnect has become the latest ICT firm to join the UN Global Compact initiative, a global scheme whereby private companies submit annual reports on their progress across human rights, labour law, environment and anti-corruption.

As part of its membership, GlobalConnect Group has said it will align its operations with the 10 principles of the UN Global Compact – listed below – and report on its progress. The firm said it would also "take strategic actions" to contribute to societal goals, such as the UN global goals for sustainable development

The firm's sustainability efforts are led by Johanna Olesen and Sofia Lisa Dinesen. The company has also appointed the chairman of its board, Eric Elzvik, to the role of ESG ambassador to ensure GlobalConnect is being governed and steered in a sustainable way.

Elzvik said: “Committing to the UNGC is an important step in GlobalConnect’s sustainability journey, as we are aligning and working actively to meet our customers’ needs and become better as a company through international standards.”

In September, Chindata was named as the first digital infrastructure participant in the UN Global Compact initiative. Upon joining it said it would "proactively explore" the development of zero-carbon data centres.

GlobalConnect's parent company, EQT, started reporting on its greenhouse gas emissions in 2015 and published Responsible Investments transparency reports prior to this.

Yesterday EQT confirmed it had established a Sustainability Committee, which it said is the "first of its kind in the private capital space dedicated to sustainability at the board level".

The committee will meet quarterly to "formalize ongoing discourse between management and the board to challenge the firm’s sustainability strategy in the context of an ever-evolving environment".

Commenting on GlobalConnect's commitment, Philip Thormark, executive director of UN Global Compact Network Sweden said: "We are very happy that GlobalConnect has chosen to join the UN Global Compact and are welcoming them to the work of integrating our Ten Principles in their operations. By doing so, participating companies not only take their fundamental responsibility to humans and the environment; they also lay the foundations for long-term and successful operations which contributes to the UN Global Goals.”

Since its launch, more than 14,000 companies from almost all industries have joined UN Global Compact, along with 3,000 non-business signatories based in more than 160 countries.

The 10 principles include:

Human Rights

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.

Labour

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.

Environment

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.

Anti-Corruption

Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.