UN Global Compact
The United Nations Global Compact is the world’s largest strategic corporate citizenship initiative, born from the desire to promote a sustainable global economy, respectful of human and labor rights, environmental protection and the fight against corruption.
It was proposed for the first time in 1999 at the World Economic Forum in Davos by former UN secretary Kofi Annan, who invited the world’s economic leaders present at the meeting to sign with the United Nations a "Global Pact", in order to address the most critical aspects of globalization in a logic of collaboration. Thus, in July 2000, the United Nations Global Compact was launched to which, since then, more than 18,000 companies from 160 countries around the world have joined, giving life to a new reality of worldwide collaboration.
Banca Popolare di Sondrio has been participating in this initiative since 2004, thus accepting the invitation of the United Nations to synergistically involve the world of business and non-governmental organizations in the great challenges of humanity. Furthermore in 2018 the Bank joined, as a founding member, also the Italian network (Global Compact Network Italia - GCNI).
The Ten Principles of the Global Compact have always been part of Banca Popolare di Sondrio's strategy and corporate culture, as well as of the banking and financial activities it carries out on a daily basis. Therefore, as every year, our bank confirmed its support for the United Nations Global Compact and reiterated its commitment in the field of corporate sustainability by publishing its Communication on Progress (COP).
CDP is a global non-profit organization that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. It is considered the first climate research provider for investors, working with institutional investors with assets of US$110 trillion.
In 2021, over 13,000 companies with over 64% of the global market capitalization disclosed their environmental impact through CDP.
Banca Popolare di Sondrio participates to the initiative since 2020 through the completion of the CDP Questionnaire on Climate Change, demonstrating transparency and awareness, essential characteristics to mark the transition to a prosperous and sustainable future. In 2021 the obtained score was C.