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With reference to the United Nations Global Compact Initiative, consider the following statements:
1. It aims to encourage businesses to adopt sustainable and socially responsible policies.
2. Its suggestions are binding on the participating countries.
3. India is a part of the initiative
2. Its suggestions are binding on the participating countries.
3. India is a part of the initiative
Which of the statements given above are correct?
- a)1 and 2 only
- b)2 and 3 only
- c)1 and 3 only
- d)1, 2 and 3
Correct answer is option 'C'. Can you explain this answer?
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With reference to the United Nations Global Compact Initiative, consid...
In News: Recently, NTPC Ltd, India’s largest power utility under the Ministry of Power, has become a signatory to the CEO Water Mandate.
Statement 1 is correct: The United Nations Global Compact Initiative aims to encourage businesses worldwide to adopt sustainable and socially responsible policies and to report on their implementation.
Statement 2 is not correct: It is a non-binding pact.
Statement 3 is correct: India is also a part of it. It is the world’s largest corporate sustainability initiative, with more than 12,000 corporate participants and stakeholders from more than 140 countries.
Statement 1 is correct: The United Nations Global Compact Initiative aims to encourage businesses worldwide to adopt sustainable and socially responsible policies and to report on their implementation.
Statement 2 is not correct: It is a non-binding pact.
Statement 3 is correct: India is also a part of it. It is the world’s largest corporate sustainability initiative, with more than 12,000 corporate participants and stakeholders from more than 140 countries.
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With reference to the United Nations Global Compact Initiative, consid...
Explanation:
1. Aim of the United Nations Global Compact Initiative:
- The first statement is correct. The United Nations Global Compact Initiative aims to encourage businesses worldwide to adopt sustainable and socially responsible policies. It provides a framework for businesses to align their operations and strategies with ten universally accepted principles in the areas of human rights, labor, environment, and anti-corruption.
2. Legally Binding Nature of the Initiative:
- The second statement is incorrect. The suggestions and principles outlined by the United Nations Global Compact Initiative are not legally binding on the participating countries or businesses. Instead, it relies on voluntary commitment from participants to adhere to these principles and to continuously improve their sustainability practices.
3. India's Participation in the Initiative:
- The third statement is correct. India is a part of the United Nations Global Compact Initiative and has actively engaged with the initiative since its inception. Many Indian companies have joined the initiative to demonstrate their commitment to responsible business practices and sustainability.
Therefore, the correct answer is option C) 1 and 3 only, as the initiative aims to promote sustainable and socially responsible business practices, and India is indeed a part of the initiative.
1. Aim of the United Nations Global Compact Initiative:
- The first statement is correct. The United Nations Global Compact Initiative aims to encourage businesses worldwide to adopt sustainable and socially responsible policies. It provides a framework for businesses to align their operations and strategies with ten universally accepted principles in the areas of human rights, labor, environment, and anti-corruption.
2. Legally Binding Nature of the Initiative:
- The second statement is incorrect. The suggestions and principles outlined by the United Nations Global Compact Initiative are not legally binding on the participating countries or businesses. Instead, it relies on voluntary commitment from participants to adhere to these principles and to continuously improve their sustainability practices.
3. India's Participation in the Initiative:
- The third statement is correct. India is a part of the United Nations Global Compact Initiative and has actively engaged with the initiative since its inception. Many Indian companies have joined the initiative to demonstrate their commitment to responsible business practices and sustainability.
Therefore, the correct answer is option C) 1 and 3 only, as the initiative aims to promote sustainable and socially responsible business practices, and India is indeed a part of the initiative.
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With reference to the United Nations Global Compact Initiative, consider the following statements:1. It aims to encourage businesses to adopt sustainable and socially responsible policies.2. Its suggestions are binding on the participating countries.3. India is a part of the initiativeWhich of the statements given above are correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'C'. Can you explain this answer?
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