Millennium Post

ONGC’s Vasudeva honoured

Sudhir Vasudeva, Chairman and Managing Director, ONGC and Chairman, ONGC Group of Companies was honoured on Wednesday and was appointed to the Board of the United Nations Global Compact (UNGC) by the Secretary General, Ban Ki-moon for a period of three years. He is only the second business leader from India to join the UNGC Board that is the cornerstone of this initiative’s framework and shapes its strategy and policy.

The UNGC is a strategic policy initiative for businesses that are committed to aligning their operations and strategies with ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption.

By doing so, business, as a primary driver of globalisation, can help ensure that markets, commerce, technology and finance advance in ways that benefit economies and societies everywhere. It is a practical framework for the development, implementation, and disclosure of sustainability policies and practices, offering participants a wide spectrum of work-streams, management tools and resources - all designed to help advance sustainable business models and markets.

Overall, the Global Compact pursues two complementary objectives: Mainstream the ten principles in business activities around the world, and catalyze actions in support of broader UN goals, including the Millennium Development Goals (MDGs).

The UNGC Network presently boasts a membership of more than 7000 business participants and other stakeholders in over 130 countries and has become the world’s largest corporate sustainability initiative. UNGC operates through 90 local networks in countries and geographic regions.

Vasudeva is the President of the Global Compact Network, India that was founded in 2003 and presently has nearly 100 members. It is one of the most active UNGC Networks and has hosted many national and international conventions, workshops and seminars to further the cause of adoption of UNGC’s ten principles.

ONGC is a founder member of the Global Compact Network, India and has adopted volunteerism as a tool toward integration of UNGC principles into its global operations.
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