ERM joins over 60 companies worldwide, representing a total asset of 1.4 trillion US dollars, as new signatories to the Sustainable Oceans Principles.
An initiative of the UN Global Compact, this set of 9 core principles provides a framework for a healthy and productive ocean. Building upon the Ten Principles of the United Nations Global Compact, of which ERM has been a member for ten years, these pledges respond to the urgent need to protect and restore our deteriorating seas.
Endorsing the Sustainable Ocean Principles is an aspirational pledge. Signatories recognize the urgency and global importance of a healthy, sustainable ocean and are promising to take action to promote the wellbeing of our oceans for current and future generations. Although there is no financial commitment, signatory companies must publically report on their progress on an annual basis. We at ERM will be publishing our progress in our annual sustainability report.
Those who sign the principles agree to:
- Demonstrate their commitment to ocean sustainability and SDGs to clients, financial partners, employees, and community
- Integrate ocean related challenges into their strategy
- Use these principles as a due diligence tool
- Contribute to the development of the sector based practical guidance
Regional CEO for Latin America and the Caribbean and Executive Sponsor Carlos Pereyra: “ERM’s purpose is to shape a sustainable future with the world’s leading organizations, and our commitment to these sustainable ocean principles is a great step forward on that journey. We recognize the importance of ocean stewardship in the decade of action, and are proud to commit to defending and promoting ocean health, its sustainable productivity, and the good governance that this must entail.”
Executive Committee member Sabine Hoefnagel added: “With heightened awareness of the importance of our oceans, businesses are recognizing the role they must take to engage stakeholders along their value chains. ERM will proactively help our clients to develop and implement robust and comprehensive practices and stay up to date with the latest research.”
When launching the initiative, Lise Kingo, CEO and Executive Director of the UN Global Compact said, “The rapid deterioration of ocean health, which deeply affects biodiversity, coastal communities and the health of the planet, must be urgently addressed.”
About the Sustainable Ocean Principles
The Sustainable Ocean Principles were developed in consultation with stakeholders from the private sector, NGOs, academic institutions and UN agencies. They are intended to build upon and supplement the overarching Ten Principles of the UN Global Compact on human rights, labour, environment and anti-corruption.