Friday, July 19, 2024

CIC Group joins global companies in adopting sustainable business practices

CIC Group has today subscribed to the United Nations Global Compact (UNGC), affirming its commitment to adopting ethical and responsible business practices in its day-to-day operations and organizational culture. By joining this network, CIC joins other global leaders in actively contributing to achieving the United Nations Sustainable Development Goals (SDGs).

Speaking during the official signing ceremony, CIC Group Chief Executive Officer, Patrick Nyaga, said that CIC would leverage its subscription in reviewing its operations in Kenya, Uganda, South Sudan, and Malawi to address pressing global challenges and work towards a more sustainable and inclusive future.

“Sustainability is central to CIC’s efforts in building a more confident future for all our stakeholders. By joining the UN Global Compact, we commit to prioritising and safeguarding human rights, labour standards, environmental protection, and anti-corruption efforts in our business practices. This will serve as a global platform to showcase our sustainability ambitions to our stakeholders, including local and international clients and investors,”

Said Mr Nyaga.

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On her part, UN Global Compact Network Kenya Executive Director Ms Judy Njino lauded the initiative saying:

“We are delighted to officially welcome CIC into the UN Global Compact. By joining the United Nations Global Compact, CIC demonstrates its steadfast commitment to embedding sustainability into its core business practices and decision-making processes.”

As a responsible corporate citizen, CIC will also take significant steps to implement sustainable practices across its operations, including:

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1. Reducing the company’s carbon footprint and promoting energy efficiency.
2. Integrating sustainability criteria into investment and underwriting decisions.
3. Supporting community development initiatives and philanthropic projects.
4. Fostering diversity, inclusion, and fair labour practices within its workforce and supply chain.
5. Strengthening transparency and anti-corruption measures throughout its business dealings.

As a signatory, CIC must also submit an annual Communication on Progress (CoP) report, demonstrating to its stakeholder its progress in working towards the Ten Principles of the UN Global Compact.

“We support public accountability and transparency in our operations, and therefore we commit to report on progress within one year of joining the UN Global Compact and annually thereafter according to the Global Compact CoP policy,” Mr. Nyaga added.

Earlier this year, CIC signed the Nairobi Declaration on Sustainable Insurance, allowing the underwriter to cultivate purpose-driven collaborations with like-minded organizations in accelerating its efforts to tackle sustainability challenges ranging from climate change and ecosystem degradation to poverty and social inequality.

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