Celebrating Progress, Planning for the Future

The UN Global Compact Network Australia (UNGCNA) has released its 2024 Impact Report, marking 25 years of the UN Global Compact (UNGC) and reflecting on the Australian network’s contributions to corporate sustainability. The report captures the momentum, challenges, and achievements of Australian businesses aligning with the UNGC’s Ten Principles and Sustainable Development Goals (SDGs).

In this blog, we offer an overview of the report, explore the importance of thinking global and acting local, examine the three core focus areas – Environment and Climate Change; Business and Human Rights; and Sustainability Governance – outline major takeaways, and highlight what’s next for the UNGCNA.

Reflecting on 25 Years of the Global Compact

The 2024 Impact Report is both a milestone and a snapshot. It recognises the 25th anniversary of the UN Global Compact, established in 2000 by then-Secretary-General Kofi Annan. The Compact called on businesses to embed universal principles into their operations and strategies, spanning human rights, labour, the environment, and anti-corruption.

As noted by UNGCNA Chair Fiona Reynolds, the initiative began as “a bold experiment in corporate responsibility” and has since grown into the world’s largest corporate sustainability platform, with more than 25,000 participants across 167 countries.

In Australia, more than 370 organisations are now participants. The report captures how these organisations are translating responsible business commitments into action, guided by the Ten Principles and the SDGs. As Executive Director Kate Dundas explains, the report is framed around the idea that “sustainability is not just a responsibility, but an opportunity”.

The report covers activities from January to December 2024 and includes program highlights, thematic focus areas, financial details, and reflections from national and global events. It is a tool for both accountability and learning, offering insight into how sustainability is progressing across sectors.

Thinking Global, Acting Local: Embedding Sustainability into Practice

A key feature of the report is the emphasis on integrating global sustainability goals into Australian business operations. UNGCNA’s approach to thinking global and acting local is evident through active engagement with international initiatives and the establishment of local platforms.

In 2024, the UNGCNA team represented Australia at significant global and regional events, including the UN General Assembly Week in New York and the OECD and the Basel Institute on Governance Southeast Asia Anti-Corruption Collective Action Peer Learning Workshop in Bangkok, Thailand. Domestically, flagship events such as the Forward Faster Forum, the Australian Public Sector Anti-Corruption Conference and UNiting Business LIVE Australia encouraged Australian businesses to align with SDG priorities.

The UNGCNA’s performance snapshot highlights its impact:

• 374 participants in 2024, including new members across corporate (18), SMEs (63) and non-business (14).
• 89% participant retention rate.
• 87% of surveyed members agreed that the UNGCNA helps them achieve responsible business goals.
• 15,808 social media followers and subscribers (combining LinkedIn and Instagram).

Focus Areas: Deepening Business Responsibility

The report identifies three major areas of focus for 2024:

1. Environment and Climate Change: Building on Australia’s national climate targets, the UNGCNA launched the Advanced Climate Reporters Community of Practice to support large companies in preparing for mandatory climate-related disclosures. It also expanded the Climate Ambition Accelerator to include 20 new participants from Australia and Aotearoa New Zealand, helping them set science-based emissions targets. Networking events in Melbourne and Adelaide addressed business links to biodiversity and the SDGs, strengthening sector-wide awareness of emerging climate risks and opportunities.
2. Business and Human Rights: The 11th Australian Dialogue on Business and Human Rights in Sydney gathered 150 participants to discuss the ‘smart mix’ of regulatory and voluntary measures. The UNGCNA also launched the Dhawura Ngilan Business and Investor Guide, supporting businesses to protect First Nations cultural heritage in line with international standards. In addition, the Modern Slavery Community of Practice expanded by 50%, providing companies with interactive spaces to discuss modern slavery risks and practical solutions. The Human Rights Due Diligence Working Group also supported participants in operationalising human rights frameworks.
3. Sustainability Governance: The UNGCNA deepened its work on business integrity and governance. The greenwashing training program helped marketing and communications professionals identify misleading ESG claims, with 85% of participants reporting they had applied what they learned. The 9th Australian Dialogue on Bribery and Corruption, held for the first time in Brisbane, addressed corruption risks in the green transition, foreign bribery reforms, and the role of corruption in undermining social outcomes. The Bribery Prevention Network continued its outreach, promoting anti-bribery and corruption best practices nationally and internationally.

“The Bribery Prevention Network is a world-leading public-private partnership that brings together business, civil society and government with the shared goal of supporting Australian business to prevent, detect and address bribery and corruption and promote a culture of compliance.” – Remarks from the Hon Mark Dreyfus KC MP at the 2024 Australian Dialogue on Bribery and Corruption.

The UNGCNA also contributed to the Australian Competition and Consumer Commission’s consultation on sustainability collaborations under competition law, supporting practical solutions for businesses pursuing collective environmental and social initiatives.

Key Takeaways: Growth, Performance, and Strategic Impact

The report presents a strong picture of growth and impact:

• Membership expansion reflects increasing demand for sustainability alignment across businesses of all sizes.
• The UNGCNA’s approach to events and programming strengthened the translation of global goals into practical, achievable business actions.
• The business case for sustainability remains prominent, with ASX-listed UNGCNA participants outperforming non-members by an average of 4.93% in annual sharemarket returns.

The UNGCNA’s multi-faceted programming – spanning climate, human rights, and governance – demonstrates a comprehensive approach to sustainability leadership.

Other focus areas include:

• Continuing support for science-based climate action.
• Advancing human rights due diligence across industries.
• Strengthening governance practices against risks such as greenwashing and bribery.

Looking Ahead: Building on Progress

The UNGCNA’s next steps involve deepening both local and international engagement. Planned initiatives include:

• Continuing the Climate Ambition Accelerator and launching a digital Sustainability Reporters Community of Practice to broaden access.
• Expanding the Business and Human Rights Accelerator and offering more frequent human rights working group sessions.
• Delivering updated greenwashing training and extending support for anti-bribery collaborations.

By maintaining strong connections to global frameworks while adapting programs for local needs, the UNGCNA is positioning its participants for long-term impact.

Conclusion

The UNGCNA 2024 Impact Report offers a detailed account of progress made over the past year and marks a major milestone in the global sustainability movement. It marks 25 years of the UN Global Compact while outlining the tangible ways Australian businesses are participating in the transition to more ethical, inclusive, and sustainable practices.

Read the full report here: UNGCNA 2024 Impact Report

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CourtHeath acknowledges the Traditional Aboriginal Owners of Country throughout Victoria and pays respect to Elders past and present, and to the ongoing living culture of Aboriginal people.

A participant in the UN Global Compact, CourtHeath seeks to raise awareness about the sustainable development goals and the principles of the Global Compact with business and government organisations in Victoria.

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Image (detail): Opening Address, Assistant Secretary-General and UN Global Compact CEO, Sanda Ojiambo – UNiting Business LIVE Australia: Sustainability in Action, hosted by the UNGCNA on 30-31 October 2024. (Source: UNGCNA 2024 Impact Report, p.8)

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