DBSA awarded UN Global Compact status
Development finance institution, the Development Bank of Southern Africa (DBSA), on Tuesday announced that it had been accepted as a signatory of the United Nations Global Compact (UNGC).
The UNGC corporate citizenship initiative, aimed at promoting human rights, labour, the environment and anticorruption, included business participants and other stakeholders from civil society, labour and government in 120 countries.
The DBSA would advance the UNGC’s principles in its sphere of influence which include infrastructure funding and development.
“The DBSA volunteered to be part of this global movement to promote good corporate citizenship. Our active participation will make a meaningful contribution to ensure that the global marketplace is more socially and economically inclusive, thus advancing collective goals of international cooperation, peace and development,” DBSA operations and evaluation manager Saphira Patel said.
The need for responsible investment coupled with changes in economic growth projections and an increasing resource scarcity had resulted in many investors, funders and donor agencies requiring an increasingly comprehensive analysis of investment risk and economic opportunities, the DBSA said.
Such analysis was required to incorporate environmental, social and governance issues into decision-making and ownership practices, with the ultimate aim of ensuring stable long-term returns and more resilient investments.
The UNGC represented one of many tools to enable organisations such as the DBSA to respond more effectively to these new developmental, social and environmental challenges.
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