The Nigerian National Petroleum business Limited (NNPC Ltd.) has joined the UN Global Compact as a participant, making it the first state-owned oil business to do so.
Malam Mele Kyari, Group CEO of NNPC Ltd., signed the UN Global Compact Letter of Commitment in New York at the ongoing UN General Assembly (UNGA).
According to a statement released by the NNPC Ltd. management on Thursday, the firm joined the Global Africa Business Initiative (GABI) at the ongoing general assembly in a quick ceremony that took place outside of President Bola Tinubu’s session.
Immediately following the signing, Kyari remarked that the company’s engagement in the UN Global Compact was additional evidence of Nigeria’s commitment to working with international partners to achieve a just Energy Transition.
With this development, NNPC Ltd., according to Kyari, supports the Ten Principles of the UN Global Compact on human rights, labour, the environment, and anti-corruption.
He defined the corporation as a dynamic, multi-national energy company with businesses and operations across the full energy value chain.
“We are dedicated to incorporating the UN Global Compact and its guiding principles into our strategy, culture, and regular business operations at our company.
The Sustainable Development Goals (SDGs) in particular would be advanced through collaborative projects, Kyari continued.
Earlier in her remarks, the Executive Director of the UN Global Compact Network in Nigeria, Ms. Naomi Nwokolo, referred to the company’s decision to join the UN global initiative as a crucial step in establishing a culture of ethical corporate behaviour, environmental stewardship, and social responsibility.
A switch from an energy system based on fossil fuels to one based on renewable energy will have far-reaching positive effects, serving as a catalyst for sustainability within the nation, on the continent, and throughout the world, as Nigeria is one of the largest producers of crude oil in Africa.
The UN Global Compact is a voluntary UN agreement that was formally launched in July 2000 and is meant to inspire businesses all over the globe to create, execute, and publish ethical and sustainable corporate policies and practises.
