AfrAsia Bank Limited joins United Nations Global Compact

13 October 2015. ‘This action confirms our engagement to align our operations and strategies on the ten principles of the UNGC’ Thierry Vallet, Acting CEO of AfrAsia Bank Limited.

AfrAsia Bank Limited continues to incorporate sustainability approaches to the way it conducts business. Across society, workplace and the communities we serve, the Bank keeps on embracing Social, Environmental and Governance considerations (Environmental Social Governance- ESG) to align with its corporate strategy and uphold its good governance structure.

AfrAsia Bank’s sustainability approach also takes into consideration that of the Bank’s asset management house, AfrAsia Capital Management, aimed at financing of innovative projects.
With over 3,100 participating companies and hundreds of other stakeholders from more than 100 countries, the Global Compact is the world’s largest voluntary corporate citizenship initiative.

The UN Global Compact’s Ten Principles are derived from: the Universal Declaration of Human Rights, the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work, and the United Nations Convention Against Corruption.

Among those participating in Mauritius are: Rogers and Co.Ltd, Ceridian Mauritius Ltd. and Medine Limited.

Human Rights

Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and

Principle 2: make sure that they are not complicit in human rights abuses.

Labour

Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;

Principle 4: the elimination of all forms of forced and compulsory labour;

Principle 5: the effective abolition of child labour; and

Principle 6: the elimination of discrimination in respect of employment and occupation.

Environment

Principle 7: Businesses should support a precautionary approach to environmental challenges;

Principle 8: undertake initiatives to promote greater environmental responsibility; and

Principle 9: encourage the development and diffusion of environmentally friendly technologies.

Anti-Corruption

Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.