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At the recent High-Level Political Forum (HLPF) in New York, Global Compact Italia presented a document on sustainability and governance.
Developed by dozens of Italian companies adhering to the UN Global Compact Italy, an important document on sustainability and governance was presented.
This Position Paper, developed with the contribution of 54 Italian companies, highlights the innovative strategies adopted to integrate sustainability into company operations, in line with the objectives of the United Nations 2030 Agenda. The document, entitled “Transformative Governance as a driver of responsible conduct for a more ethical, prosperous and sustainable business”, outlines the key strategies adopted by companies to promote sustainable governance. It is an approach that sees sustainability not only as a moral duty, but also as a crucial element for corporate competitiveness and for driving towards social, economic and environmental change.
The Position Paper presents 20 case histories that demonstrate the transformative potential of sustainable governance. Among the most innovative actions are the creation of internal and external committees to support boards of directors in developing sustainability strategies, with particular attention to climate action. Furthermore, many companies have implemented training programs aimed at employees, suppliers and future generations, also collaborating with schools to spread the culture of sustainability. Stakeholder involvement is another crucial element of the document. Italian companies have created listening, consultation and activation mechanisms at a local level, involving communities and partners in defining sustainability strategies. This approach has led to the creation of partnership projects with the Third Sector, aimed at combating climate change, improving the accessibility and quality of primary services for the population and promoting the culture of sustainable development.
The document was presented during an event organized in collaboration with the Permanent Representation of Italy to the United Nations. Marco Frey and Daniela Bernacchi, respectively President and Executive Director of the UN Global Compact Network Italy, illustrated the Position Paper to the public. Frey underlined how companies increasingly recognize sustainability as a central element of competitiveness, integrating it into their governance to guide business towards responsible conduct.
Ojiambo highlighted how the concept of “Transformative Governance” integrates sustainability into the corporate governance system, generating positive impacts both internally and externally. This approach involves all company levels and promotes strategic partnerships to increase the positive impact on the territory. Alexandra Bolton, Director of the Climate Governance Initiative, highlighted the urgency of tackling climate change with clear objectives and detailed plans. According to Bolton, it is essential that boards integrate climate governance into corporate strategies through a holistic approach, recognizing the business opportunities related to sustainability.
The UN Global Compact proposes an approach defined as “Transformative Governance”, which sees sustainability as a factor in accelerating strategic planning and the alignment of business processes. This approach also promotes collaboration with key players such as suppliers, the world of finance, consumers and customers, as well as institutions and the Third Sector. The event highlighted the importance of the “Transformative Governance” approach in the fight against the climate emergency. Claudio Barbaro, Undersecretary of State at the Ministry of the Environment and Energy Security, reiterated the need for effective dialogue between businesses, institutions and other stakeholders to address global challenges. Sanda Ojiambo, Assistant Secretary-General and CEO of the United Nations Global Compact praised the commitment of Italian companies in drafting a document that not only proposes transformative business models, but also facilitates a more effective dialogue on sustainability issues.
The Position Paper presented at the HLPF in New York represents an important step towards promoting sustainable and transformative corporate governance. Italian companies adhering to the UN Global Compact Italy are demonstrating how it is possible to integrate sustainability into daily operations, making it a central element of corporate strategy. This commitment not only helps improve competitiveness, but also plays a crucial role in driving the social, economic and environmental change needed to address global challenges.
Daniela Bernacchi concluded the event by highlighting how companies that adopt a transformative logic are able to effectively involve traditional stakeholders and create new partnerships with the Third Sector and other trade associations. This approach increases the positive impact of businesses on the territory and promotes the sharing of best practices.
Alessandro Fiorentino