Sustainability begins with a principled approach to doing business.
Born with privilege of father reading company annual reports where he invests in small amounts and also involved in creating his company annual reports, I started to read Indian company annual reports from age of 12. In 1990s, there was no internet, my father used to have stack of hard bounds (Carries few today also) and started reading. In those days my curiosity made me check for last page and both sides of back cover (in annual report) to see pictures and photos that describe social and community initiatives of corporate.
On receiving MindTree annual report last week, I observed there was less or no data on CSR and got surprised. Today I received sustainability report, that has half number of pages compared to pages in annual report. My respect of the company increased in my mind. Learnt about The Ten Principles of the United Nations Global Compact and you can find more in this article. Copied them for my reference to my blog.
- Principle 1 Businesses should support and respect the protection of internationally proclaimed human rights;
- Principle 2 Make sure that they are not complicit in human rights abuses.
- 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 labor;
- Principle 5 The effective abolition of child labor;
- Principle 6 The elimination of discrimination in respect of employment and occupation.
- Principle 7 Businesses should support a precautionary approach to environmental challenges;
- Principle 8 Undertake initiatives to promote greater environmental responsibility;
- Principle 9 Encourage the development and diffusion of environmentally friendly technologies.
- Principle 10 Businesses should work against corruption in all its forms, including extortion and bribery. 23