- Munich Re joins United Nations’ Global Compact initiative
- Global Compact principles complement Munich Re’s guiding principles for sustainability and code of conduct
The Munich Re Group has joined the United Nations’ Global Compact initiative, which stipulates ten principles to promote international standards for companies and organisations in the areas of human rights, labour, the environment and anti-corruption. In a letter to Secretary-General Ban Ki-moon, Munich Re CEO Dr. Nikolaus von Bomhard has given an assurance that Munich Re will respect and support the principles.
"For Munich Re, adherence to the highest ethical standards is axiomatic. Being part of Global Compact is a further component in our value management. As a signatory to Global Compact, we thus make it visible to everyone at international level that ethical principles are firmly anchored in the strategy, culture, and daily business of our company", declared von Bomhard. "Global Compact is a worldwide initiative whose significance and international recognition cannot be stressed highly enough."
Global Compact was launched in 2000 at the initiative of former UN Secretary-General Kofi Annan. Among other things, the ten principles obligate signatories to protect human rights, to prevent forced and compulsory as well as child labour, to promote environmental protection, and to combat corruption. Members of Global Compact include more than 3,800 companies and organisations from more than 100 countries.
Munich Re is already a member of several selected sustainability intiatives. In April 2006, it was the first German company to sign the UN Principles for Responsible Investment. Munich Re shares are included in the leading sustainability indices, such as the Dow Jones Sustainability Index (DJSI) and the FTSE4Good.
signed Dr. von Bomhard signed Dr. Lawrence
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