The leading satellite solutions provider in the United Arab Emirates, Al Yah Satellite Communications Company PJSC (ADX: YAHSAT), recently announced its membership in the UN Global Compact (UNGC).
The UN Global Compact is the biggest corporate sustainability program in the world. Yahsat will incorporate the ten fundamental UNGC principles—which include labor, human rights, environmental stewardship, and anti-corruption measures—into its business operations as an official member.
Yahsat will incorporate these principles into every facet of its sustainability and Environmental, Social, and Governance (ESG) strategy so that it is rigorously adopted throughout its entire operations. The company also plans to play an active role in a variety of collaborative projects that will advance the sustainability vision of both the United Nations and the United Arab Emirates. This is with a specific focus on the Sustainable Development Goals (SDGs).
According to Ali Al Hashemi, Chief Executive Officer of Yahsat Group, Yahsat is delighted to be the first space technology company in the United Arab Emirates to join the UN Global Compact and integrate its ten principles into Yahsat’s core business. He shared that this demonstrated their unwavering commitment to openness and accountability for all of their operations that affect people and the environment. He said that Yahsat is a perfect UNGC member since it has a track record of ethical governance practices and is committed to creating a sustainable future for all.
Yahsat, being an official member of UNGC, will release a yearly report called “Communication on Progress.” This report will detail the company’s efforts in implementing the Ten Principles set forth by UNGC.
Driving Sustainable Development: The Role of the UN Global Compact in the Business World
The UN Global Compact is ultimately a call for businesses/companies to align their operations and strategies with ten principles that apply to all humans concerning human rights, labor, the environment, and anti-corruption. It urges them to take steps that promote societal objectives and the achievement of the Sustainable Development Goals (SDGs). The objective of the initiative is to involve numerous companies from various industries and sizes worldwide. They aim to create a worldwide movement of responsible companies that prioritize sustainability in their core strategies and operations. This not only benefits society but also the companies themselves.
Takeaways
The UAE’s leading space technology company, Yahsat, has officially joined the UN Global Compact, marking a significant step towards corporate sustainability. Yahsat demonstrates its steadfast dedication to openness, moral governance, and creating a sustainable future by adopting these ten universal principles. This action helps the community and demonstrates the company’s commitment to ethical business practices for a better future.
