13 December 2007
CIMA Sri Lanka division and Global Compact Sri Lanka Network have announced the first Global Compact Sri Lanka Network/CIMA Sustainability Awards.
The awards, the first of their kind globally, are intended to recognise companies that demonstrate best practice in sustainability in Sri Lanka and a genuine commitment to triple bottom line management by upholding the United Nations Global Compact ten principles.
The awards will recognise outstanding, innovative and sustainable development practices and initiatives encompassing any of the ten UNGC principles. The practices should demonstrate that the company has a sincere ongoing commitment to any of the four areas of the Global Compact - human rights, labour, environment or anti-corruption.
Award winners will be positioned globally as leaders in corporate responsibility in Sri Lanka and will serve as illustrative and inspirational examples for other Sri Lankan companies.
Neil Buhne, United Nations resident co-ordinator/humanitarian co-ordinator and the resident representative of the United Nations development programme in Sri Lanka, was chief guest at the awards launch. CIMA is the first professional body to support this venture, and plans to roll it out on a global basis working with the Global Compact.
Commenting on the launch of the awards, CIMA CEO Charles Tilley said: “in the modern business world, it is no longer sufficient for companies to protect the interests of their shareholders alone.
"Corporate accountability is now an integral part of business life and companies are recognising that they have a responsibility to a wider range of stakeholders in maintaining a sustainable business.”
The President of CIMA Sri Lanka, Aruna Fernando, stated:
“In an age of ever increasing globalisation, it is essential that business organisations across the world work together to adopt and promote the principles of the UN Global Compact. It is only through working together that we can work towards achieving the United Nation’s vision of a more sustainable and inclusive global economy.”
As well as the global importance of sustainability, highlighting its role in the Sri Lankan context was also high on the agenda. Ravi Fernando, Global Compact Focal Point – Sri Lanka, added:
“The UN Global Compact, with 4,400 members, is the world’s largest corporate responsibility network. It gives an excellent platform for Sri Lankan companies engaged in global business to gain credibility and acceptance with their international counterparts who also subscribe to the UN Global compact principles.
"In this millennium, corporate responsibility will be measured by an organisation’s commitment to sustainability.”
The awards follow an earlier Global Compact Network Sri Lanka initiative, the launch of ‘Globally Positioning Sri Lanka’s Best’, a booklet showcasing five best practice case studies of Sri Lankan companies. Global Compact Executive Director, Georg Kell, said:
“We continue to support the approach of the Global Compact Sri Lanka Network to build Global Compact Champions in the country”.
For more information, please contact:
CIMA/Global Compact Sri Lanka Network
Radley Stephen/Amanthi Perera
Tel: 00 94 11 250 3880, ext 239 Tel: 00 94 11 479 6462
Email: Radley.Stephen@cimaglobal.com Email: AmanthiP@masholdings.com
Web: www.cimaglobal.com Web: www.unglobalcompact.org
1. CIMA (the Chartered Institute of Management Accountants) is the only international accountancy body with a sole focus on business. It is a world leading professional institute that offers an internationally recognised qualification in management accountancy, focusing on accounting in business, in both the private and public sectors. It is the voice of over 158,000 students and members in 161 countries.
CIMA is responsible for the education and training of management accountants who work in industry, commerce and not-for-profit and has more members in the public sector than any other UK based body. CIMA prides itself on the commercial relevance of its syllabus, which is in tune with the activities of high performance organisations, and evolves continually to reflect the latest developments in global business.
CIMA has been nominated as a UK Superbrand for a second year in a row this year and for the first time in Sri Lanka. According to independent research conducted by the University of Bath School of Management, CIMA’s syllabus and examination structure are the most relevant to the needs of business of all the accountancy bodies assessed. See the CIMA Difference report for further information at www.cimaglobal.com/thecimadifference. CIMA is committed to upholding the highest ethical and professional standards of members and students, and to maintaining public confidence in management accountancy.
2. Through the power of collective action, the Global Compact seeks to promote responsible corporate citizenship so that businesses can be part of the solution to the challenges of globalisation. In this way, the private sector – in partnership with other social actors – can help realise a vision of a more sustainable and inclusive global economy. The Global Compact is a purely voluntary initiative carrying with it the objective of mainstreaming the ten principles in business actitivities around the world, whilst also catalysing actions in support of UN Millennium Development Goals.
3. The concept of the ‘Triple bottom line’ refers to an organisation’s creation of economic value whilst sustaining the environment and being responsible in the societal context in which the organisation operates.
