CIC Group has subscribed to the United Nations Global Compact (UNGC) today, showing its dedication to adopting ethical and responsible business practices in its day-to-day operations and organizational culture.
Through this membership, CIC joins other global leaders in actively contributing to the United Nations Sustainable Development Goals (SDGs).
During the official signing ceremony, the Chief Executive Officer (CEO) of CIC Group, expressed that the company would utilize its subscription to review its operations in Kenya, Uganda, South Sudan and Malawi.
The goal is to address pressing global challenges and work towards a more sustainable and inclusive future.
Mr Nyaga stated, “Sustainability is at the core of CIC’s efforts to build a more confident future for all our stakeholders. By joining the UN Global Compact, we commit to prioritizing and safeguarding human rights, labour standards, environmental protection, and anti-corruption efforts in our business practices. This platform will enable us to showcase our sustainability ambitions to local and international clients and investors.”
Judy Njino, the Executive Director of UN Global Compact Network Kenya, praised the initiative, welcoming CIC officially into the UN Global Compact.
She highlighted that by joining, CIC demonstrates its firm commitment to integrating sustainability into its core business practices and decision-making processes.
As a responsible corporate citizen, CIC will take significant steps to implement sustainable practices across its operations, including reducing its carbon footprint, promoting energy efficiency, incorporating sustainability criteria into investment and underwriting decisions, supporting community development initiatives and philanthropic projects, fostering diversity, inclusion, and fair labour practices within its workforce and supply chain, and strengthening transparency and anti-corruption measures in its business dealings.
As a signatory, CIC will be required to submit an annual Communication on Progress (CoP) report, demonstrating its progress in working towards the Ten Principles of the UN Global Compact.
Mr. Nyaga emphasized the company’s commitment to public accountability and transparency, pledging to report on progress within one year of joining the UN Global Compact and annually thereafter according to the Global Compact CoP policy.
Earlier this year, CIC signed the Nairobi Declaration on Sustainable Insurance, which opened the door for purpose-driven collaborations with like-minded organizations. Through these collaborations, CIC aims to accelerate its efforts in tackling sustainability challenges, including climate change, ecosystem degradation, poverty, and social inequality.