The objective of the United Nations Global Compact (UNGC) is to support the private sector and other stakeholders manage increasingly complex social, economic and environmental challenges. It exists to provide a leadership platform for the development, implementation and disclosure of responsible corporate policies and practices.
Alongside a commitment to enhancing human rights, labour rights, anti-corruption and environmental protection, the UNGC considers social investment, the practice of commercially motivated organisations aligning and leveraging business practices and resources with broad societal objectives, pivotal to sustainable development.
With this in mind, the UN-backed Principles for Social Investment Secretariat (PSI Secretariat) was established to help ensure that markets, commerce, technology and finance advance in ways that benefit economies and societies everywhere.
In collaboration with the UNGC, the purpose of PSI Secretariat is to:
- act as the custodian of the Principles for Social Investment (PSI) guidelines
- communicate and disseminate information on the practice and goals of social investment
- support and encourage implementation of effective social investment strategies within business
- contribute to public dialogue on the need for business engagement in supporting broad community development objectives
The PSI Secretariat aims to achieve this through:
- hosting the annual UNGC Social Investment Forum, an international event for organisations seeking to lead in the social investment space
- synthesising social investment learning from the business community and representing it in a coordinated manner into the major global policy opportunities on behalf of the UNGC
- partnering with academic research centres to enhance our understanding of social investment practices and opportunities
- maintaining the social investment web portal which acts as a repository for global best practice, learning and practical support
- hosting the annual Social Investment Pioneer Awards
Headquartered in Melbourne, Australia, PSIS is strategically located in close proximity to many of the most rapidly developing economies in the world, whereby the implementation of effective social investment practices will be crucial to achieving inclusive economic development and cross-sector collaboration.