LOS ANGELES--(BUSINESS WIRE)--Fisker Inc. (NYSE: FSR) (“Fisker”) – passionate creator of the world's most sustainable electric vehicles and advanced mobility solutions – has joined the United Nations Global Compact (UNGC) as a signatory and participant.
The UNGC, established in 2000, is the world’s largest corporate sustainability initiative, according to the organization, uniting businesses in over 160 countries to support Ten Principles in areas of human rights, labor, the environment, and anti-corruption. (Additional detail on the Ten Principles can be found below.)
Shortly after going public, Fisker established a stringent framework for Environmental, Social, and Governance (ESG), including company-wide deliverables aligned with the UN Sustainable Development Goals (UNSDGs) and using the SASB reporting structure.
Signing on to the UNGC was a logical next step for Fisker as it pursues an overarching goal of creating the world’s most sustainable all-electric vehicles, starting with the Fisker Ocean SUV, arriving in late 2022. The company aims to produce a climate-neutral vehicle by 2027.
“ESG is a core value and brand pillar at Fisker,” wrote CEO Henrik Fisker in a letter to the UN. “We take our responsibilities to the ethical and fair treatment of people, communities, and the environment very seriously.”
In a letter responding to Fisker’s stated intention to support the initiative, UNGC Executive Director Sanda Ojiambo wrote the “heart of the Global Compact is a conviction that business practices which are rooted in universal principles help the global marketplace to be more socially and economically inclusive, thus advancing collective goals of international cooperation, peace and development.”
According to Ojiambo, “Such goals are critical for the health and vibrancy of the private sector given the symbiotic relationship between business and society.”
Ten Principles of the UNGC
The UNGC has articulated Ten Principles for the Global Compact, grouped into four areas:
Human Rights
Principles 1 &2: Businesses should support and respect the protection of internationally proclaimed human rights; and make sure that they are not complicit in human rights abuses.
Labor
Principles 3-6: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining; the elimination of all forms of forced and compulsory labor; the effective abolition of child labor; and the elimination of discrimination in respect of employment and occupation.
Environment
Principles 7-9: Businesses should support a precautionary approach to environmental challenges; undertake initiatives to promote greater environmental responsibility; and encourage the development and diffusion of environmentally friendly technologies.
Anti-Corruption
Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
Fisker Inc Was Built on ESG
Founded in 2016, Fisker Inc has committed to ESG since the company’s inception and has established a comprehensive ESG framework that informs all aspects of the business. Fisker’s approach to ESG consists of industry leadership, transparency, partnerships, and real-world scientific measurement.
Thanks to this framework, Fisker intends to meet the UN’s requirement to produce a Communication of Progress (COP) on the company’s efforts to support the Ten Principles of the UNGC. The COP will be generated in 2022, documenting Fisker’s specific actions.
Within a few months of going public, Fisker established a publicly reported Responsible Supplier Policy and recently published its Labor and Human Rights Policy, among other important Governance material. The company has formed an ESG Advisory Council that will regularly engage in important Environmental and Social challenges and recommend actions consistent with the company’s values and the Ten Principles of the UNGC.
Renowned actor and United Nations Development Programme (UNDP) Goodwill Ambassador Nikolaj Coster-Waldau has joined the Fisker Advisory Council as its first external member. The “Game of Thrones” actor has been involved with the UNDP since 2016; he will advise Fisker on matters related to the UNGC and the UN’s global goals for sustainable development.
“We intend to lead our industry on sustainability and are ready to fulfill our commitments to the UNGC, advancing our ESG goals as we expand our company in the coming years,” Henrik Fisker added.
About Fisker Inc.
California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world's most sustainable vehicles. To learn more, www.fiskerinc.com – and enjoy exclusive content across Fisker's social media channels: Facebook, Instagram, Twitter, YouTube and LinkedIn. Download the revolutionary new Fisker mobile app from the App Store or Google Play store.
Forward-Looking Statements
This press release includes forward-looking statements, which are subject to the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “feel,” “believes,” expects,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology and include, among other things, the quotation of our Chief Executive Officer, and statements regarding the Company’s strategy and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: Fisker’s limited operating history; Fisker’s ability to enter into additional manufacturing and other contracts with Magna, or other OEMs or tier-one suppliers in order to execute on its business plan; the risk that OEM and supply partners do not meet agreed upon timelines or experience capacity constraints; Fisker may experience significant delays in the design, manufacture, regulatory approval, launch and financing of its vehicles; Fisker’s ability to execute its business model, including market acceptance of its planned products and services; Fisker’s inability to retain key personnel and to hire additional personnel; competition in the electric vehicle market; Fisker’s inability to develop a sales distribution network; and the ability to protect its intellectual property rights; and those factors discussed in Fisker’s Annual Report on Form 10-K, as amended, under the heading “Risk Factors,” filed with the Securities and Exchange Commission (the “SEC”), as supplemented by Quarterly Reports on Form 10-Q, and other reports and documents Fisker files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Fisker undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release
