Telefónica is one of the 54 multinationals that the United Nations has selected in January 2011 to constitute the Global Compact LEAD, a leadership platform for the promotion of sustainability in the world. These companies have been recognised as sustainable leaders in the global economy. Three other large Spanish companies have joined the LEAD; these are BBVA, Endesa and Acciona. Telefónica and BBVA are also members of the Executive Committee of the platform.
These 54 companies, all participants of the UN Global Compact, have made an ambitious commitment to work towards implementation of the Blueprint for Corporate Sustainability Leadership, a comprehensive roadmap outlining roughly 50 concrete actions that businesses can take to achieve greater sustainability. The Blueprint was first introduced by the Global Compact in June 2010.
Global Compact LEAD companies are further more expected to share their knowledge through the initiative’s local networks in more than 90 countries and to report on their activities at an advanced level. Participants also pledge to work more actively with United Nations agencies, funds and programmes, many of which have built significant business partnership capacities in recent years, recognizing the critical role of business in addressing global challenges.
Will this UN initiative actually make these businesses more sustainable? Will other companies follow this trend? Is this the right policy to achieve a tangible impact on global challenges such as Climate Change, widespread poverty or humanitarian emergencies? In other words, will this platform help to leave a more sustainable world to future generations?