The UN Global Compact grows with the addition of another Bulgarian company

The world’s largest initiative for sustainable development in the private sector - the UN Global Compact - is growing with the addition of one more Bulgarian company. This is the construction holding Glavbolgarstroy, which has become part of the Bulgarian Network of the UN Global Compact.

This is another effective partnership of the Glavbolgarstroy group through which the company seeks to address modern sector challenges and establish Bulgaria as a leading country in construction innovations.

Sustainable development

The company is implementing a rigorous investment program to renew used construction machinery and equipment to reduce its environmental footprint and increase workplace safety. At the same time, it’s increasing its consumption of electrical energy from renewable sources and reducing its water consumption, part of it through reuse.

Glavbolgarstroy emphasizes that the pursuit of product and technological improvements, which take into account the reduction of energy consumption and primary materials, and dealing with the problem of construction waste, is the basis of the future sustainable development of this economy-leading sector.

The company has been striving to improve its management practices for years, emphasizing economic growth, high quality and the application of international environmental, social and ethical standards. Specifically in construction, it fulfils its commitments to transparency in its work and following the public interest by implementing sustainable and responsible business practices in the construction process.

Responsible corporate governance

There was a special meeting on the occasion of the company’s accession to the UN Global Compact. It was attended by Kalin Peshov, Chairman of the Board of Directors of Glavbolgarstroy Holdings, and Dimitar Tsotsorkov, Chairman of the National Council of the Bulgarian Network of the Global Compact. They outlined specific goals aimed at promoting responsible corporate behavior and creating long-term value for both business and society. Emphasis was also placed on the possibility of expanding the scope of sustainable practices and social responsibility of business by engaging the enterprises involved in the supply chain.

The principles, values ​​and understandings that Glavbolgarstroy implements in its business strategy and in its daily work are in line with the UN's global goals for sustainable development and underline the company's determination to be a leader in construction innovation," noted Kalin Peshov during the conversations.

About the Bulgarian Network of the UN Global Compact

The Bulgarian Network of the United Nations Global Compact unites companies, non-governmental organizations and educational institutions and since its foundation in 2011 has been the most active organization in the country in terms of sustainable development. The professional expertise of the Network has been built for more than a decade within the framework of the world's largest sustainability pact, which defined the concept of ESG investing.

The UN Global Compact is the world's largest corporate sustainability initiative, with more than 23,000 members in over 160 countries. The voluntary initiative of former UN Secretary-General Kofi Annan brings together business and non-governmental organizations, academic institutions, cities and UN agencies in a global forum that supports sustainable growth and civil society.

The 10 principles of the UN Global Compact are aimed at implementing responsible business practices in the field of human rights, labor standards, environmental protection and the fight against corruption. The seventeen specific UN Sustainable Development Goals (SDGs) are a global initiative aimed at solving global problems such as poverty, hunger, inequality, climate change and more. These goals seek to strike a balance between economic growth, social well-being and environmental protection to improve the quality of life around the world and preserve the planet for future generations.

Translated by Tzvetozar Vincent Iolov