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Network Canada Leads Discussion on Corporate Responsibility at Canada's Corporate Compass

Toronto, Canada, 9 October 2024 - The UN Global Compact Network Canada convened the "Canada's Corporate Compass: Navigating Emerging Social and Environmental Challenges" event at the TIFF Lightbox in Toronto. This exclusive, in-person gathering brought together leaders from the private sector, government, and civil society to explore pressing issues such as Just Transition, climate adaptation strategies, and ethical supply chain practices—key elements of Canada’s pathway to sustainability.

In her opening remarks, Sanda Ojiambo, Assistant Secretary-General; CEO and Executive Director of the UN Global Compact emphasized the need for clear guidance for businesses: “The challenges we face today—climate change, declining social cohesion and economic instability—are unprecedented in their complexity, but the solutions are within our grasp if we act decisively and collectively. Businesses must be at the forefront of this transformation, leveraging their unique capabilities to drive sustainable development. The Ten Principles of the UN Global Compact, the SDGs, and our Forward Faster initiative provide the roadmap for aligning purpose with profitability. Now is the time for companies to step up with ambitious, actionable commitments that not only secure their future but also contribute to a more equitable and sustainable world. Together, we can create the systemic change required to tackle the world’s most pressing issues.”

Understanding the Current Landscape of Emerging Issues
Panel A, titled "Understanding the Current Landscape of Emerging Issues," focused on navigating the evolving landscape of corporate responsibility. Moderated by Mercedes Morin, Director of the Sustainable Development Goals Unit at Employment and Social Development Canada, the panel featured insights from industry leaders on topics like just transition principles, climate adaptation strategies, and ethical supply chain practices.

Speakers highlighted how Canada’s evolving regulatory framework, including the Modern Slavery Act and new provisions in the Competitions Act, presents both challenges and opportunities for businesses. Emrul Hasan, Principal Consultant at PlanCatalyst, emphasized the tangible consequences of inaction for vulnerable communities and operating businesses, particularly in the Global South. Katherine Prusinkiewicz, Partner and Director of Knowledge at Norton Rose Fulbright, discussed the major regulations influencing Canadian corporate sustainability and how businesses can leverage these regulations to position themselves as leaders. Julie Millard, Vice President of Corporate Citizenship at OpenText Corporation, shared insights on managing both formal regulations and voluntary standards, and the importance of making bold commitments beyond compliance. Anne Pringle, Programs & Impact Director at Lucky Iron Life, spoke about overseeing ethical supply, manufacturing, and improving human rights due diligence, highlighting how these responsibilities contribute to long-term success and resilience for small and medium-sized enterprises (SMEs). 

Together, the panelists highlighted that moving beyond compliance, engaging in just transition, and adopting proactive sustainability practices are crucial for business resilience and positive social impact.

Building Resilient Value Chains for a Sustainable Future
Panel B, titled "The Emerging Issues Roadmap: Building Resilient Value Chains for a Sustainable Future," explored the complexities of building resilient value chains amid unprecedented social and environmental challenges. Moderated by Elizabeth Dove, Executive Director of the UN Global Compact Network Canada, the panel featured insights from industry leaders.

Jane Zhang, Co-CEO of ETCH Sourcing, highlighted the importance of ethical sourcing strategies, emphasizing that transparency and accountability are integral to building resilient value chains and ensuring long-term success. Paul-Emile McNab, Vice-President of the Canadian Council for Indigenous Business, discussed  Economic Reconciliation, urging companies to recognize and address power imbalances when working with Indigenous communities, thereby ensuring that business actions are inclusive, equitable, and supportive of community well-being. Vincent Klassen, Director General of the Sustainability Directorate at Environment and Climate Change Canada emphasized the role of business within Canada’s Sustainable Development strategy. He highlighted the importance of aligning business operations with Vision 2030, inspiring companies to contribute to our sustainable collective future.

Together, the panelists emphasized that building resilient value chains requires ethical sourcing, economic reconciliation, proactive collaboration, and literacy in and commitment to human rights to contribute meaningfully to sustainable development.

Key Takeaways: A Call to Action
The event closed with remarks from Rumina Dhalla, Chair of the Board of Directors of the UN Global Compact Network Canada, who reiterated the urgency for businesses to adopt a compass that guides them toward responsible, profitable, and purposeful operations. “Today’s discussions have shown that sustainable business is not only possible but necessary,” said Ms. Dhalla. “The Ten Principles of the UN Global Compact, the SDGs, and initiatives like Forward Faster provide the blueprint for companies to contribute meaningfully to our shared future.”

Elizabeth Dove, Executive Director of UN Global Compact Network Canada, added, “Canadian businesses have a unique opportunity to be at the forefront of sustainable development. By joining the UN Global Compact, companies can drive transformative change that benefits both society and the environment, ensuring a thriving future for all.”

The event underscored the importance of collaborative, multi-stakeholder partnerships in driving systemic change. As businesses navigate the complexities of just transition, climate adaptation, and ethical supply chains, initiatives like Forward Faster focus businesses on areas they are uniquely positioned to advance that accelerate progress towards the 2030 Agenda.

If you are ready to lead the way to a sustainable future, learn how to join the UN Global Compact and be part of a global movement here. Together, we can create the momentum needed to achieve the Sustainable Development Goals by 2030.

The UN Global Compact Network Canada thanks all participants, speakers, and its host sponsor, the Toronto International Film Festival, for hosting this impactful discussion. Together, we can navigate the path to a sustainable, resilient, and equitable future for all.

About UN Global Compact Network Canada 

The UN Global Compact Network Canada is part of the world’s largest corporate sustainability initiative, dedicated to advancing the Ten Principles in human rights, labour, environment, and anti-corruption along with the Sustainable Development Goals (SDGs). The Canadian Network brings together over 200 companies, both large and small, from various sectors, all committed to integrating sustainable and ethical practices into their core strategies. This collective effort not only exemplifies leadership but also offers a competitive advantage in the marketplace. Throughout the year, the network provides numerous opportunities for engagement designed to support companies in taking decisive action and accelerating the shift toward a sustainable future. For more information, visit www.unglobalcompact.ca.

For more information, please contact:

Melvina Ramasamy

Manager, Marketing and Communication

UN Global Compact Network Canada

network@unglobalcompact.ca 


09 October 2024

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