​BRUSSELS, 3 November 2015 – WSBI and ESBG submitted last Friday a Communication of Engagement to the United Nations Global Compact. Published on the United Nations Global Compact website, the communication states that WSBI-ESBG and its members continue to support and advance the Global Compact Initiative in respect of its four broad main headline principles of human rights, labour, the environment and anti-corruption. 

The 23-page paper includes a statement by WSBI-ESBG Managing Director Chris De Noose, a description of WSBI-ESBG activities to support the Global Compact principles and a qualitative description of how WSBI-ESBG Member Banks implement the principles. This takes the form of case studies focusing on members actions taken in favour of an inclusive society, WSBI- ESBG's commitment to financial inclusion, sound labour practices as well as the environment.

The WSBI- ESBG  Communication of Engagement ​is important because it demonstrates a commitment by a non-business organisation such as WSBI- ESBG to support the UN Global Compact and its principles. According to the Global Compact, by incorporating its principles into strategies, policies and procedures and establishing a culture of integrity, companies not only uphold their basic responsibilities to "people and plant", but also set the stage for long-term, sustainable business success.