Minmetals Corporation Joins United Nations Global Compact

Recently, according to an E-mail from the United Nations Global Compact Office, the Minmetals Corporation has become a member of the United Nations Global Compact Organization.

As early as August 20th this year, Zhouzhongshu, the president of the Minmetals Corporation has signed a application letter to UN Secretary-General Ban Ki-moon, in the letter, he expressed the company's wish to join the organization. Later, through a series of examination and approval procedures of the Global Compact, the company finally became a member of this organization.

The United Nations Global Compact, also known as Compact or UNGC, is a United Nations initiative to encourage businesses worldwide to adopt sustainable and socially responsible policies, and to report on their implementation. The Global Compact is a principle based framework for businesses, stating ten principles in the areas of human rights, labour, the environment and anti-corruption. Under the Global Compact, companies are brought together with UN agencies, labour groups and civil society.

The Global Compact is the world's largest corporate citizenship initiative and as voluntary initiative has two objectives: "Mainstream the ten principles in business activities around the world" and "Catalyse actions in support of broader UN goals, such as the Millennium Development Goals (MDGs)."

The Global Compact was first announced by the then UN Secretary-General Kofi Annan in an address to The World Economic Forum on January 31, 1999, and was officially launched at UN Headquarters in New York on July 26, 2000.

Now, the company has more than 6000 members from 130 countries all over the world. In China, 201 factories have joined the organization, including Sinopec, CNOOC, China Steel Group, Huaneng Group, Datang Group, State Grid, China Mobile etc.

As a member of the organization, the Minmetals Corporation has to fulfill the following obligations:

First, the company should commitment to follow the ten principles of Global Compact.

Second, the company should submit an annual progress report to the United Nations Global Compact Office.

Third, the company should contributions to the Global Compact Foundation annually (usually not more than 10 thousand U.S. dollars per year).

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