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July 22, 2010

Olympus Recognized by United Nations Global Compact
for Its Notable COP

The 2008 and 2009 CSR reports submitted by Olympus Corporation (President: Tsuyoshi Kikukawa) have been recognized by the United Nations Global Compact (GC) as Notable Communications on Progress (Notable COP). Olympus has been participating in the United Nations GC since 2004.

* The Global Compact Office selects Notable COP. Approximately four percent of all COP are chosen.

Corporate Stance on CSR

Olympus integrates with society as a corporate citizen (INvolvement) and shares its values with society (INsight), while proposing new value through business (INspiration) to help people lead happier and healthier lives. The company refers to the idea defined by these three "INs" as "Social IN," and it has ensconced it as a corporate philosophy in an attempt to build new value as it advances and grows in step with society.

Recently, Olympus, in partnership with the United Nations Development Program (UNDP) and The Agence France-Presse (AFP) Foundation, has been holding Picture This: We Can End Poverty (written in Japanese), a photo contest for supporting the international community's Millennium Development Goals (MDGs).

What Is the Global Compact?

Global Compact

The GC is a voluntary initiative that businesses pursue as good corporate citizens by exhibiting creative and responsible leadership. Their participation builds a global framework for achieving sustainable growth. The businesses that have signed the GC have the commitment of their presidents to make continual efforts toward achieving the ten basic principles of CSR concerning protection of human rights, elimination of unfair labor practices, support of the environment, and prevention of corruption.

What are Communications on Progress?

COPs are annual reports from GC-member businesses to their stakeholders detailing their compliance with the GC's ten principles concerning human rights, labor standards, environment, and anti-corruption. They also report on UN partnership operations represented by the Millennium Development Goals. Olympus reports its COPs in its CSR Report Digest.

The Ten Principles

Human Rights
Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
Principle 2: make sure that they are not complicit in human rights abuses.

Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Principle 4: the elimination of all forms of forced and compulsory labour;
Principle 5: the effective abolition of child labour; and
Principle 6: the elimination of discrimination in respect of employment and occupation.

Principle 7: Businesses should support a precautionary approach to environmental challenges;
Principle 8: undertake initiatives to promote greater environmental responsibility; and
Principle 9: encourage the development and diffusion of environmentally friendly technologies.

Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.


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