On September 12, 2024, the Secretariat of the National Contact Point for Responsible Business Conduct took part in training on “Human Rights – Business Practice”. The speaker of the training was Mrs. Ivana Tsvetkova, program manager Sustainable Development Goals in the Bulgarian Network of the UN Global Compact, who were also organizers of the event.

In the ever-evolving landscape of environmental, social and governance issues, businesses face unprecedented challenges in navigating the multitude of regulations and expectations. From the complex tasks of identifying and assessing risk and compliance to the growing demand for transparency, ethics and accountability, corporate governance is more complex than ever.

In the training aimed at Bulgarian enterprises, “human rights” were presented not simply as a legal requirement, but as a future part of corporate business culture and strategy. They are part of the basic rights for responsible companies and a mandatory minimum in sustainable development work. As a result, there can be legal, financial and reputational consequences if businesses fail to meet their compliance responsibility. The UN Global Compact’s annual survey shows that 72% of responding companies are committed to implementing the UN Guiding Principles, but 36% note that extending the UNGP throughout their supply chain is a challenge. Another key aspect that was addressed during the training was the due diligence that companies need to do on human rights.

By implementing human rights requirements and standards, businesses can ensure their stability, integrity and staff development, growth and cooperation with the right suppliers and buyers, while building or maintaining their good reputation and loyal customers.

More information can be found here.