The UN Global Compact is a corporate responsibility initiative that promotes ecological, social and economic responsibility in businesses and organisations. In the initiative, organisations commit to promoting favourable working conditions, human rights, environmental protection, anti-corruption, and a global economy that advocates sustainability and engagement.
LUT is involved in the initiative and supports its goals through research and education and by being a responsible employer.
"We are helping society and businesses to renew sustainably by producing solutions for clean energy, air and water and research results on novel value creation applicable to practice. We educate responsible experts and future business executives," says Jari Hämäläinen, Vice Rector, Research and Innovations, LUT University.
In the unique Global Compact network, member organisations create new corporate collaboration partnerships and support each other in taking responsibility and broadening their horizons. The operation of the network is steered by the ten principles of Global Compact and the UN's sustainable development goals.
"The UN's sustainable development goals are also applied in the Times Higher Education (THE) Impact Rankings, which means all these objectives and their indicators support each other," Hämäläinen points out.
Global Compact enables the critical assessment of operations
The LUT School of Business and Management came up with the idea to become involved in this global corporate responsibility initiative. LUT's business research and education focus on sustainable value creation: how businesses thrive in international competition by operating in an economically, ecologically and socially sustainable way.
The LUT School of Business and Management is also committed to the UN's Principles for Responsible Management Education (PRME), which tie sustainable and internationally recognised values to business and management education and research.
Academy of Finland Postdoctoral Researcher, Docent Laura Olkkonen says that LUT was accepted into the Global Compact initiative on 22 March 2021.
"PRME and the more extensive Global Compact are initiatives that support each other in mobilising the sustainable movement of business schools towards a common, sustainable future. LUT University's commitment to Global Compact is a strong signal that responsibility and sustainability are incorporated into all aspects of our activity: research, education, societal impact, and how the university operates as an organisation and employer," Olkkonen sums up.