Fabege’s ethical guidelines have thus been replaced by a Code of Conduct, whose format better matches the initiative’s ten fundamental principles. The Global Compact is based on the UN Declaration of Human Rights, the UN Convention against Corruption, the International Labour Organisation’s (ILO) Declaration on Fundamental Principles and Rights at Work, the OECD’s Guidelines for Multinational Enterprises and the Rio Declaration on Environment and Development.
The objective is to promote responsible enterprise worldwide and to give greater responsibility to the business community for the challenges of globalisation. By supporting the Global Compact, Fabege undertakes to realise and integrate the ten principles into its operations.
The Ten Principles
Human Rights
Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
Principle 2: make sure that they are not complicit in human rights abuses.
Labour
Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Principle 4: the elimination of all forms of forced and compulsory labour;
Principle 5: the effective abolition of child labour; and
Principle 6: the elimination of discrimination in respect of employment and occupation.
Environment
Principle 7: Businesses should support a precautionary approach to environmental challenges;
Principle 8: undertake initiatives to promote greater environmental responsibility; and
Principle 9: encourage the development and diffusion of environmentally friendly technologies.
Anti-Corruption
Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.