The UN Global Compact recently announced that it has expelled 372 companies in the second half of 2014 for failure to produce reports on compliance for two consecutive years, bringing the total number of expelled companies in 2014 to 657[1]. Global Compact is a United Nations initiative to encourage businesses worldwide to adopt sustainable and socially responsible policies, and to report on their implementation. It is a principle-based framework for businesses, stating ten principles in the areas of human rights, labour, the environment and anti-corruption – companies are brought together with UN agencies, labour groups and civil society[2].
According to the Global Compact initiative, the expelled companies represent 10 percent of the 3,760 participants due to submit a Communication on Progress (COP) within the second half of 2014, and the number of companies joining the UN Global Compact continues to exceed the number of expulsions, with 729 companies from around the world joining the initiative from July through December 2014.
[1] https://www.unglobalcompact.org/news/1621-01-14-2015
[2] https://www.unglobalcompact.org/AboutTheGC/index.html