Johannesburg - The Development Bank of Southern Africa (DBSA) has been accepted as a signatory to the United Nations Global Compact (UNGC), the bank said on Tuesday.
The UNGC promotes human and labour rights, the environment, and anti-corruption efforts through good corporate citizenship, the DBSA said in a statement.
“The bank will continue to advance these principles in its sphere of influence for infrastructure funding and development,” it said.
The UNGC is the world's largest corporate citizenship initiative, with thousands of participant businesses, civil society and labour organisations, and governments in 120 countries.
“The bank volunteered to be part of this global movement to promote good corporate citizenship,” said its operations and evaluations manager Saphira Patel.
“Our active participation will make a meaningful contribution to ensure that the global market place is more socially and economically inclusive.”
Investment needs, economic growth changes, and increasing resource scarcity had resulted in investors, funders, and donor agencies needing a more comprehensive risk and economic opportunities analysis.
“The UNGC represents one of many tools to enable organisations such as the DBSA to respond more effectively to these new developmental, social and environmental challenges,” the bank said. - Sapa