Essar Energy joins UN corporate responsibility initiative

Becomes signatory to United Nations Global Compact and implement anti-corruption, human rights, labour and environment principles

London-listed Essar Energy plc today said it has become a signatory to the United Nations Global Compact, which encourages businesses to implement anti-corruption, human rights, labour and environment principles.

By becoming a signatory of UNGC, Essar Energy said it "has joined the largest voluntary corporate responsibility initiative in the world with over 10,000 corporate participants and other stakeholders from over 130 countries".

"Essar Energy commits to adopting an established and globally recognised policy framework for the development, implementation and disclosure of environmental, social and governance policies and practices," it said.

The company will integrate in its annual sustainability report a description of the ways in which it implements the UNGC principles and supports broader development objectives such as the UN's Millennium Development Goals.

Company Chief Executive Naresh Nayyar said, "The UNGC endorsement is a huge step forward in demonstrating to our stakeholders Essar Energy's growing commitment to sustainability. As a respected and responsible global energy major, Essar Energy will continue to contribute to a more sustainable and inclusive global economy".

The UN Global Compact is a strategic policy initiative for businesses that are committed to aligning their operations and strategies with 10 universally accepted principles in the areas of human rights, labour, environment and anti-corruption.

It is the largest voluntary corporate responsibility initiative in the world.