UN Global Compact
The United Nations Global Compact is the largest initiative for sustainability and corporate social responsibility addressed to companies worldwide, aiming to align their business strategies and actions with universal principles on human rights, labor, environmental protection, and anti-corruption.
In the fall of 2021, Genesis Property became the first real estate company in Romania to decide to join the community of companies supporting the 10 Principles of the UN Global Compact concerning human rights, labor, environmental protection, and anti-corruption. It is a decision through which we have firmly committed to adopting and developing a management system based on a set of values universally accepted at the global level.
The 10 Principles of the United Nations Global Compact
Human Rights
Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights.
Principle 2: Make sure that they are not complicit in human rights abuses.
Labor
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 labor.
Principle 5: The effective abolition of child labor.
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.
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.
Communication on Progress
Additionally, we have committed to voluntarily and transparently provide information about our activities through an annual report called "Communication on Progress," a document prepared in accordance with the reporting framework of the UN Global Compact.
Through this document, we offer all interested parties information and details about the actions carried out and the results achieved during the previous year by Genesis Property, in the effort to improve the living and working conditions of both our employees and the employees of our clients and partners, and our entire community. This commitment demonstrates that we understand the essential role that transparency and open communication play in the joint effort to create a sustainable world.
All "Communication on Progress" reports submitted and published by the UN Global Compact are available below.
We have just six years left to contribute to the achievement of the 17 Sustainable Development Goals.
However, at the last UN summit in September 2023, António Guterres – the Secretary-General of the Organization – highlighted that only 15% of the Sustainable Development Goals (SDGs) are on track, for 48% of them progress is insufficient or insignificant, while for 37% of the SDGs, progress has stagnated or even regressed below the baseline level of 2015.
Furthermore, greenhouse gas emissions continue to rise, now 8 years after the signing of the 2030 Agenda: over 50% of companies worldwide are recording increasing emissions, while only 18% of them meet the proposed parameters for achieving neutrality by 2050.
Therefore, while many companies have made commitments in terms of sustainability, the private sector is called upon to set aside words and urgently proceed to effective measures and actions.
That is why, in the context of the last United Nations summit in September 2023, Genesis Property became the first company in Romania to, by signing the “Forward Faster” initiative launched on this occasion, positively respond to the Organization's call to accelerate the achievement of the SDGs by 2030.