The Nigerian National Petroleum Company Limited (NNPCL) has signed up as a participant in the United Nations Global Compact, becoming the first state-owned oil company to join the global initiative.
The Group CEO of NNPC Ltd., Mele Kyari signed the Letter of Commitment at a short ceremony on the sidelines of President Bola Ahmed Tinubu’s session at the Global Africa Business Initiative (GABI) at the ongoing United Nations General Assembly (UNGA) in New York.
Kyari said the company’s participation in the UN Global Compact is testimony to Nigeria’s commitment to work with global partners towards attaining a just energy transition.
The GCEO posited that the participation supports the ten principles of the United Nations Global Compact on Human Rights, Labour, Environment, and Anti-corruption.
“We are committed to making the UN Global Compact and its principles part of our strategy, culture, and day-to-day operations of our company, and to engage in collaborative projects which advance the broader development of goals of the United Nations, particularly the Sustainable Development Goals (SDGs),” Kyari said.
Earlier in her remarks shortly after signing on behalf of the UN Global Compact, the Executive Director of the UN Global Compact Network Nigeria, Naomi Nwokolo, described NNPC Ltd.’s participation in the UN Global Compact as a pivotal step in fostering a culture of ethical business conduct, environmental stewardship, and social responsibility.
With Nigeria being one of the largest producers of crude oil in Africa, a transition from an energy system driven by fossil fuels to one based on renewable energy will have a far-reaching positive impact, catalyzing sustainability in-country, on the continent, and the world at large.
The UN Global Compact, formally launched in July 2000, is a voluntary UN agreement designed to encourage companies around the world to develop, implement, and disclose responsible and sustainable corporate policies and practices.