…becomes first state-owned oil firm to sign Initiative
The Nigerian National Petroleum Company Limited (NNPCL) has signed the United Nations Global Compact Letter of Commitment as a participant at the ongoing 78th United Nations General Assembly (UNGA) in New York, United States.
The company confirmed its signing for the global initiative letter in a statement on Thursday, and that the signing ceremony took place at the sidelines of President Tinubu’s session during the Global Africa Business Initiative (GABI), where its Group Chief Executive Officer, Mele Kyari, signed the Letter of Commitment.
According to the statement, the signing of the Letter made the NNPCL the first state-owned oil company to join the global initiative.
The NNPCL statement reads: “Speaking shortly after signing the dotted line, the GCEO said that as a dynamic global energy company with businesses and operations across the entire spectrum of the energy value chain, NNPC Limited’s participation in the UN Global Compact is a further testimony to Nigeria’s commitment to work with global partners towards attaining a just Energy Transition.
“He added that with this development, NNPC Limited supports the Ten Principles of the United Nations Global Compact on human rights, labour, environment, and anti-corruption.
“We are committed to making the UN Global Compact and its principles part of our strategy, culture and day-to-day operations of our Company, and to engage in collaborative projects which advance the broader development goals of the United Nations, particularly the Sustainable Development Goals (SDGs).
“Earlier in her remarks shortly after signing on behalf of the UN Global Compact, the Executive Director, UN Global Compact Network Nigeria, Ms. Naomi Nwokolo described NNPC Ltd.’s move to become a participant of the UN Global Compact as a pivotal step in fostering a culture of ethical business conduct, environmental stewardship, and social responsibility.
“With Nigeria being one of the largest producers of crude oil in Africa, a transition from an energy system driven by fossil fuels to one based on renewable energy will have far reaching positive impact, serving as a catalyst for sustainability in-country, on the continent and the world at large”, the NNPCL’s management added.
The UN Global Compact, which was launched in July 2000, is a voluntary UN agreement designed to encourage companies around the world to develop, implement, and disclose responsible and sustainable corporate policies and practices.