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Joint industry human rights supply chain engagement

 Joint industry human rights supply chain engagement

Monday، 01 October 2018 | Article Rating

New York City, USA, September 24, 2018 – BP, Equinor, Shell and Total CEOs announce that they have agreed to join forces to create a collaborative approach to human rights supplier assessments in the energy industry.

Participating companies recognise the importance of working with suppliers that respect human rights, in line with the UN Guiding Principles on Business and Human Rights, including the fundamental conventions of the International Labour Organization (ILO), and that care for their people.

The objective of this initiative is to create an industry framework for human rights supplier assessments. Results of conducted assessments will be shared with the participating companies through an independent third party. Work is currently ongoing to establish the assessment criteria and sharing mechanism.

The desired outcome is to make it easier and more efficient for suppliers to demonstrate how they respect human rights and care for their people. The sharing mechanism across the participating parties aims to support the improvement of working conditions in our companies’ supply chains.

As members of the UN Global Compact, BP, Equinor, Shell and Total, believe this initiative supports the objectives of Sustainable Development Goal 8, which is to “promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all”.

The initiative does not include collaboration on selection of suppliers, which continues to remain the independent decision of each participant.

The four initiators of this collaboration - BP, Equinor, Shell and Total - invite other companies in the industry to join.

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Pasargad Energy Development Co. (PEDC) is an independent energy company based in Iran. PEDC is an integrated energy company whose activities span the entire value chain including exploration, production, refining, petrochemicals marketing, power generation & renewables as well as new high-tech venture capitalizing. Our headquarter is located in Tehran. PEDC is present across the Iranian continental shelf and international market through its subsidiaries. We create value for our shareholders through active investment, high-level monitoring of our projects, building world-class partnership and managing our risks effectively and making balanced portfolio. Meantime, we contribute to the sustainable development of the energy sector and communities in our country. PEDC’s competitiveness relies upon our values-based performance culture, with a strong commitment to transparency, cooperation and continuous operational improvement. As a wholly owned subsidiary of the Pasargad Financial Group, with Pasargad Bank being a distinctive shareholder, we owe our success to our experience, management knowledge and strong local/international partnerships since 2008. PEDC is committed to maintaining sustainability and being recognized as the strategic partner of choice in Iran’s energy and petrochemical sector.​

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