The NNPCL says the signing places it as the first state-owned oil company to join the global initiative.
The Nigerian National Petroleum Company Limited (NNPCL) on Thursday announced it has signed up as a participant of the United Nations Global Compact.
The NNPCL said in a statement by management on Thursday that by the signing it became the first state-owned oil company to join the global initiative.
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.
The NNPCL explained that 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, the NNPC Ltd Group Chief Executive Officer, Mele Kyari, signed the letter of commitment, signifying NNPC Ltd's participation in the UN Global Compact.
The statement said speaking shortly after signing the dotted lines, Mr Kyari said that as a dynamic global energy company with businesses and operations across the entire spectrum of the energy value chain, NNPC Ltd.'s participation in the UN Global Compact wad further testimony to Nigeria's commitment to working with global partners towards attaining a just energy transition.
He said with this development, NNPC Ltd supports the Ten Principles of the United Nations Global Compact on human rights, labour, environment, and anti-corruption.
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"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)," Mr Kyari was quoted by the statement as saying.
In her remarks shortly after signing on behalf of the UN Global Compact, the Executive Director, UN Global Compact Network Nigeria, 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 a far-reaching positive impact, serving as a catalyst for sustainability in-country, on the continent and the world at large," the statement said.
