One of the key elements of the UNGC initiatives is the existence of business led multistakeholders platforms of local networks which provide an opportunity for members to share experiences, innovative practices and collaborates for furtherance of responsible business values within country specific contexts. The Global Compact Network Tanzania is formed by the UNGC participant companies from Tanzania. It is registered as a Company Limited by Guarantee to function as the Tanzania Local Network of the Global Compact Programme, functioning within a globally recognized and established initiative related to CSR.
Global Compact Network (GCN) provides an extremely relevant vehicle for Indian Companies- Large & SME, Academic institutions and Civil Society organizations to join hands towards strengthening responsible business initiatives in Tanzania and Internationally.
- Global ethical framework: Any stakeholder joining GCNT enters into a Global Ethical framework by embracing universal principles on Human rights, Labour, Environment and Anti-corruption long recognized by governments all over the world but not yet universal implemented.
- Induction, Training and Communication progress: Companies are provided by way of briefing and training activities to the key staff on what it means to be a part of the UNGCT and how they can contribute to their organizations CSR activities and other initiatives which cover broadly the ten principles of UNGC. Assistance is also provided to companies in preparing their annual communication of progress (COP) as part of their commitment to the principles of UNGC.
- Integrated Platform: The network provides a high impact collective action platform by way of knowledge sharing and Network meetings; regional conclaves, National convention in which leaders from all over the country representing various companies/organisations meet to address and explore collective action can create incentives for ethical business performance and on some of the most urgent social and environment challenges of our times. It’s also strengthens corporate citizenship and develops partnership projects to the achievement of MDGs goals.
- Publication and Communication: Creates a window of opportunity for the stakeholders to share their best practices to a larger global audience by way of publishing in Annual UNGC Documents and through electronic communication by means of UNGC and GCNT newsletter and websites.
- Increased legitimacy and license to operate, particularly in the developing world, because business practices are based on universal values.
- Improved reputation and increasing brand value towards consumers and investors – specifically in the context of changing societal expectations.
- Increased employee morale and productivity, and attracting and retaining the highest qualified employees.
- Improved operational efficiency, for instance through better use of raw materials and waste management.
- Ensuring accountability and transparency through a public communication on progress.