TheCable

The Nigerian National Petroleum Company (NNPC) Ltd has signed up as a participant in the United Nations Global Compact.

The UN Global Compact, formally launched in July 2,000, is a voluntary UN agreement designed to encourage companies around the world to develop, implement, and disclose responsible and sustainable corporate policies and practices.

According to a statement on Thursday, the letter of commitment was signed 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 national oil company said Mele Kyari, its group chief executive officer (GCEO), signed the letter of commitment — signifying the company’s participation in the UN Global Compact.

“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 NNPC said.

Speaking shortly after signing the agreement, the GCEO said 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 is a testimony to Nigeria’s commitment to work with global partners towards attaining a just energy transition.

With the development, Kyari said NNPC 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),” he said.

In her remarks, Naomi Nwokolo, executive director, UN Global Compact Network Nigeria, described NNPC Ltd’s move to become a participant of the compact as a pivotal step in fostering a culture of ethical business conduct, environmental stewardship, and social responsibility.