K+S presents product value impacting in the UN Global Compact Yearbook 2020
As one of the best practices, K+S presents product value impacting in the Yearbook celebrating 20 years of the UN Global Compact.
K+S has signed the United Nations Global Compact in 2015. We thus support the ten principles of the Global Compact in the areas of human rights, labour standards, environmental protection and combating corruption. In the current UN Global Compact Yearbook, K+S presents its product value impacting.
In order to identify the ecological, economic and social impacts of the product portfolio, both positive and negative, as detailed as possible and to be able to visualize these impacts, K+S has used the impact valuation tool.
As a producer of products in the fields of medicine, pharmaceuticals, food production, agriculture and animal feed, as well as for numerous industrial applications, K+S has a wide-ranging impact on society, the environment and the economy through their manufacture and subsequent use.
With product value impacting, K+S has developed and implemented an approach to quantify product impacts. One result is a matrix that shows the contribution of the product portfolio to the Sustainable Development Goals (SDGs).
Companies are an important partner in achieving the 17 goals for sustainable development (SDGs), and K+S is also actively involved in this area. It is about the "Transformation of our world: the Agenda 2030 for sustainable development". For each product segment, in addition to the direct contribution to the SDGs, the long-term, higher-order, indirect contribution was also assigned. The result is a matrix that shows indirect and direct contributions of the K+S customer segments to the SDGs.
UN Global Compact celebrating 20th anniversary
Twenty years ago, the Global Compact was initiated and has since become the world's largest initiative for sustainable and responsible corporate governance. The UN Secretary-General at the time, Kofi Annan, called for globalization to succeed for all. With the help of ten principles, the Compact pushes for the same rules worldwide for an inclusive and sustainable global economy. The German Global Compact Network (DGCN) is also celebrating its 20th anniversary this year as one of the first of around 70 local networks of the UN Global Compact.
The current edition of the German Global Compact Yearbook looks back, gives key protagonists a chance to speak, and highlights the unbroken relevance of the UN initiative with many practical examples.
It is noteworthy that participation in the German network has increased by over 20 percent since the outbreak of the coronavirus pandemic. We hope to interpret this as a sign that the business community's commitment to a sustainable future will not wane, even - or especially - in these challenging times. And this commitment is more urgent than ever.