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The Business Compact gives leading international businesses a platform to show their support for Ukraine’s recovery and its drive to modernize, build a resilient and agile economy and emerge from war as a stronger and more prosperous state. As a signatory you will join thousands of companies around the world supporting the recovery and reconstruction of Ukraine, by looking for opportunities, when the time is right, to engage in trade and investment, peer-to-peer expertise sharing, pro bono work and business activities.
The Business Compact will be officially launched at this year's Ukraine Recovery Conference (“URC”) on June 21/22
The URC23 itself will mobilize the international community to help secure Ukraine’s long-term economic future, including helping Ukraine build back better, as a more resilient, greener, and more prosperous European nation. In particular, the URC23 will place emphasis on the role of the private sector – and the reforms required to drive investment – as essential components of Ukraine’s long-term recovery.
We are delighted to announce that the United Nations Global Compact Ukraine in partnership with the Government of Ukraine have agreed to host the Ukraine Business Compact. As part of this process, the Ukraine Business Compact sign up page will move from the Ukraine Recovery Conference website to a dedicated United Nations Global Compact webpage. Please find the new website address here: ubc.globalcompact.org.ua
The Business Compact gives leading international businesses a platform to show their support for Ukraine’s recovery and its drive to modernise, build a resilient and agile economy and emerge from war as a stronger and more prosperous state. As a signatory you will join thousands of companies around the world supporting the recovery and reconstruction of Ukraine, by engaging with opportunities for trade and investment, sharing peer-to-peer expertise, pro bono work and through other business activities which will be advertised to the group.
The Business Compact was officially launched at this year's Ukraine Recovery Conference (“URC”) on June 21/22
The URC23 mobilised the international community to help secure Ukraine’s long-term economic future, including helping Ukraine build back better, as a more resilient, greener, and more prosperous European nation. In particular, the URC23 placed emphasis on the role of the private sector – and the reforms required to drive investment – as essential components of Ukraine’s long-term recovery
A vibrant private sector will help to drive Ukraine’s recovery and ensure it can modernize, build a resilient and agile economy and emerge as a stronger and more prosperous state. Ukraine has competitive advantages and growth potential which make it an attractive market for trade and investment for domestic and international business. The aim of this compact is to re-enforce the business community's support for peace in Ukraine and to set out mutual expectations for success of the recovery efforts.
By signing this compact we commit to supporting the recovery and reconstruction of Ukraine by looking for opportunities, when the time is right, to engage in trade and investment, peer-to-peer expertise sharing, pro bono work and business activities including but not limited to:
1. Investing in business opportunities in Ukraine, participating where possible in reconstruction through direct financial contributions or investments into Ukrainian operations, and/or
2. Working with Ukraine-based companies, including to harness the country’s existing and future potential via trade, expertise sharing and partnerships, and/or
3. Supporting Ukraine-wide development and economic growth, where possible and in line with business objectives.
We will adhere to 4 core principles in supporting long-term sustainable economic recovery and reconstruction ofUkraine:
● Investing and behaving sustainably, accelerating green transition and inclusive growth in accordance with international corporate practice.
● Acting responsibly and reinforcing responsible business practices, aligned with international standards, including adherence to applicable legislation, support and respect of human rights, equitable and inclusive practices, and prevention of corruption.
● Implementing best practice corporate governance and working to identify areas where compact signatories and Ukrainian businesses can share capabilities and promote best practice governance in a mutually beneficial way.
● Respecting all applicable sanctions legislation and regulations.
There is no signature deadline, but we strongly encourage signatures by June 19th. The Business Compact will be available to sign beyond the Ukraine Recovery Conference and there is no definitive deadline for signing. However, if companies wish to be included in the list of signatories showcased at the conference, they must sign by June 19th.
The Business Compact is open to any company that is committed to the principles and commitments outlined in the compact and wishes to demonstrate their support for Ukraine’s recovery and reconstruction.
Signatories must adhere to all applicable sanctions, legislation, and regulations.
We understand that some companies are still in the process of exiting Russia or have suspended operations partially or temporarily. By signing the Business Compact, companies would be demonstrating that they are serious about their support for the recovery and reconstruction of Ukraine.
Yes. The Ukraine Business Compact is open to all businesses and organizations committed to Ukraine’s recovery. All participating companies should still have active operations and be properly constituted.
Yes. If a company’s parent (holding, group, etc) is a signatory to the Business Compact, then we will post the name of the parent company on the global list, assuming that all subsidiaries participate as well.
Subsidiaries that wish to be specifically named in addition to the parent company should register to sign in addition to the parent company.
The Business Compact is specifically aimed at business organizations. As key stakeholders, non-business and non-governmental organizations are very welcome to promote and share the Business Compact amongst their membership and networks.
The Business Compact is intended to be showcased at the URC23 on June 21/22 along with its list of signatories. Any company who does not wish to be named as a signatory can request this in writing to: UkraineBusinessCompact@fcdo.gov.uk, though we encourage public support for Ukraine and its recovery.
The URC team is on hand to help with technical difficulties in signing the Business Compact. Please reach out to UkraineBusinessCompact@fcdo.gov.uk and we will be happy to assist you in signing.
No. The Ukraine Businessbehavior Compact is a voluntary initiative. There is no intended mechanism to enforce the behaviour or actions of companies. Rather, it is designed to promote business support of recovery and reconstruction in Ukraine via their stated adherence to commitments and principles of the Business Compact and to accelerate positive change in Ukraine and its partners.
The Ukraine Business Compact is an opportunity for each business to make a visible statement of their support to the values and principles of Ukraine’s recovery. The commitment of each business (unless requested otherwise) will be showcased at the URC in London June 21/22, as well as at further public events on Ukraine’s reconstruction. We hope that signing the Business Compact will send an important message to the core stakeholders of businesses that choose to support it and that signatories will respond to further invitations to support and participate in recovery.
Existing statements on Ukraine are welcomed and are an important part of business support for Ukraine’s recovery and reconstruction. The Ukraine Business Compact takes a step further as a collective declaration to support the recovery and reconstruction of Ukraine by looking for opportunities, when the time is right, to engage in trade and investment, peer-to-peer expertise sharing, pro bono work and business activities.
No.
The Ukraine Business Compact is a voluntary initiative, and signatories are free to end their participation at any time. Signatories may decide to withdraw if they determine they are not able to continue their participation in the initiative. The intention to withdraw should be communicated in writing by an authorized representative of the participating company/organization to UkraineBusinessCompact@fcdo.gov.uk
The Ukraine Business Compact is a call to action, not a monitoring and enforcement tool.
The UN Global Compact and OECD Guidelines for Multinational Enterprises are two of the foremost voluntary initiatives that support general, sustainable business practices. These focus on enhancing the relationship between businesses and international standards. The Ukraine Business Compact is a specific commitment to the recovery and reconstruction of Ukraine, and support of business opportunities relating to Ukraine. It is complementary to the UN Global Compact and the OECD Guidelines.
If a company chooses to sign up through the webpage, this will be managed externally through a Ukrainian based company. The organization’s software is primarily hosted with AWS, and employs various security measures to protect personal data. This data will be shared with FCDO for processing purposes, and handled securely.
If a company chooses to sign through the PDF, this information will be held on FCDO servers. Internal FCDO IT employs numerous security measures to secure sensitive data. For further information kindly refer to the privacy notice.
