• Wednesday, July 17, 2024
businessday logo

BusinessDay

NNPC joins UN sustainability initiative

1F9129F8-C3E5-41B3-B91E-9983F1B3676F

The Nigerian National Petroleum Company (NNPC) Limited has signed up as a participant in the United Nations Global Compact, thereby becoming the first state-owned oil company to join the global initiative.

In a short ceremony on the sidelines of President Bola Ahmed Tinubu’s session during the Global Africa Business Initiative (GABI) at the ongoing United Nations General Assembly (UNGA) in New York, Mele Kyari, the group CEO of NNPC, signed the Letter of Commitment, signifying NNPC’s participation in the UN Global Compact.

Read also: NNPC makes management changes again

Speaking after signing the letter, Kyarki said that as a dynamic global energy company with businesses and operations across the entire spectrum of the energy value chain, NNPC’s participation in the UN Global Compact was a testimony to Nigeria’s commitment to working with global partners towards attaining a just energy transition.

He added that with this development, NNPC Ltd. 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 of goals of the United Nations, particularly the Sustainable Development Goals (SDGs),” Kyari added.

Earlier in her remarks, Naomi Nwokolo, the executive director, UN Global Compact Network Nigeria, described NNPC’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.

Read also: NNPCL fails to remit $1.9billion to Federation Account in 2021

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 a far-reaching positive impact, serving as a catalyst for sustainability in-country, on the continent and the world at large.

The UN Global Compact, formally 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.