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Voluntary sustainability initiatives refer to commitments led by industry, civil society, government, or international organisations under which signatories pledge to improve their performance on sustainability topics beyond existing legal requirements. Voluntary initiatives have become an important element in the mix of policies, regulations, and other collective strategies for managing private sector impacts on the environment and society. Participation in such initiatives sends a positive signal to stakeholders that the organisation cares about an issue and is committed to contribute towards a solution. Such initiatives can also offer platforms for the organisation to learn about sustainability and collaborate with peers. Voluntary initiatives can take place at global, regional, national, local, and sector level. Many initiatives will require signatories to report on their progress or whether they have met specific targets. A good example is the UN Global Compact, https://www.unglobalcompact.org/