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ARARATBANK joins the United Nations Global Compact international initiative

ARARATBANK joins the United Nations Global Compact international initiative

The Ten Principles of the United Nations Global Compact are derived from the Universal Declaration of Human Rights, the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work, the Rio Declaration on Environment and Development, and the United Nations Convention Against Corruption.

By joining the UN Global Compact international initiative in 2022, ARARATBANK has expressed its willingness to incorporate the UN sustainable development principles into its business practices and act in accordance therewith.

“We are committed to making the UN Global Compact and its principles part of the strategy, culture and day-to-day operations of our company and to being involved in collaborative projects which advance the broader development goals of the United Nations, particularly the Sustainable Development Goals,” stated the Letter of Commitment of ARARATBANK OJSC published on the official website of the UN Global Compact.  

A number of world leading banks, such as  Raiffeisen Bank International AG, Bank of America, British Business Bank, National Bank of Greece S.A., TBC Bank, Korea Development Bank, China Development Bank, Deutsche Bank AG, have also joined the initiative.


The 10 principles of the UN Global Compact within the context of human rights, labour, environment and anti-corruption are as follows: support and respect the protection of internationally proclaimed human rights, uphold the effective recognition of the right to collective bargaining, avoid complicity in human rights abuses, uphold the elimination of all forms of forced and compulsory labour, the effective abolition of child labour and the elimination of discrimination in respect of employment and occupation, undertake initiatives to promote greater environmental responsibility, encourage the development and diffusion of environmentally friendly technologies, work against corruption in all its forms, including extortion and bribery.

For further details, please visit https://bit.ly/3xXT2CC.

Page updated 07.03.2023 | 15:53

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