Implementing UN Global Compact principles boosts economic value creation
The article explores how companies can benefit from joining the UN Global Compact by focusing on environmental principles and transparent communication. By studying the Ulstein Group, the researchers found that strategies like pollution prevention and product stewardship can lead to increased economic value. However, success in product stewardship depends on customer willingness to pay. Transparent communication can enhance corporate reputation, but companies must have action plans in place for addressing challenges. Overall, implementing UN GC principles can help companies show they are proactive and learn from mistakes.