Chinese GoodWe joins United Nations Global Compact

Inverter Major GoodWe joins United Nations Global Compact

By Soumya Duggal/ Updated On Wed, Jul 7th, 2021

Highlights :

The joining of the UNGC is a signal to buyers and investors that the firm follows best employee practices .
It comes in the backdrop of many customers shying away from buying solar goods made in Xinjiang province by Chinese firms, due to allegations of forced labour.

Chinese solar PV inverter manufacturer GoodWe has joined the United Nations Global Compact (UNGC) as a leading renewable energy corporation and has expressed a determined intent to abide by the ten principles in environment, labor, human rights and anti-corruption. The firm is a global MNC today, with a strong market presence across many countries.

“We are proud to be a signatory company of UNGC. Since our establishment, we have been taking renewable energy development very seriously,” said Mr. Min Huang, CEO of GoodWe, “We are committed to improving the environment and creating a new era of intelligent energy.”

The UNGC is a United Nations organization which encourages global businesses and organizations to adopt sustainable and socially responsible concepts and practices. It is also the world’s largest corporate social responsibility initiative with 13,000 participants and stakeholders from over 170 countries. The UNGC was announced by then UN Secretary-General Kofi Annan in 1999 and officially launched in New York City in 2000.

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GoodWe says that it treats all employees and partners across its business and operations with dignity and respect, protects employee rights, and respects individual freedom and rights. The company has said that it is committed to ensuring that every workplace provides a safe and respectful environment for every employee and has set up labor unions that provide an open communication platform for each employee.

As a publicly listed company on the Shanghai Stock Exchange, GoodWe is legally required to make and keep accurate records which truthfully and accurately reflect all corporate transactions and maintain an adequate system of internal accounting controls. It states that any form of corruption is not tolerated.

As a new member of UNGC, GoodWe will collaborate with other members and partners to promote renewable energy development and tackle climate change. The company has expressed its intent to abide by the ten principles, participate in various UNGC initiatives and promote sustainable corporate practices.