Sumsub’s Open Letter of Commitment to the Ten Principles of the United Nations’ Global Compact on Human Rights, Labour, Environment and Anti-Corruption

From: Sum and Substance LTD
a United Kingdom Company
No. 09688671
30 St. Mary Axe, London, England, EC3A 8BF
[email protected]

To: Mr. H.E. António Guterres
Secretary-General
United Nations
New York, NY 10017, USA

Dear Mr. Secretary-General,

I represent Sum and Substance LTD, as part of Sum and Substance Group International (hereinafter – the “Sumsub”), an international consortium offering technological solutions for Know-You-Customer and anti-money laundering procedures on global markets. Our products include automated biometric identity verification programs, non-face-to-face customer onboarding infrastructures and solutions based on big data. Our clients include banks, investment funds, fintech companies, sharing economy, online services and marketplaces etc. Together with our competitors, we are working on creating the full-scale digital identity infrastructure that many future generations of the humankind will benefit from.

Please accept our confirmation that Sumsub fully and utterly supports the Ten Principles of the United Nations Global Compact on human rights, labour, environment and anti-corruption.

With this communication, we express our intent to implement those principles. We are committed to making the UN Global Compact and its principles part of the strategy, culture and day-to-day operations of our company, and to engaging in collaborative projects which advance the broader development goals of the United Nations, particularly the Sustainable Development Goals. Sum and Substance LTD will make a clear statement of this commitment to our stakeholders and the general public.

We recognize that a key requirement for participation in the UN Global Compact is the annual submission of a Communication on Progress that describes our company’s efforts to implement the Ten Principles. We support public accountability and transparency, and therefore commit to report on progress within one year of joining the UN Global Compact, and annually thereafter according to the UN Global Compact COP policy. This includes:

• A statement signed by the Chief Executive Officer expressing continued support for the UN Global Compact and renewing our ongoing commitment to the initiative and its principles. This is separate from our initial letter of commitment to join the UN Global Compact.
• A description of practical actions (i.e., disclosure of any relevant policies, procedures, activities) that the company has taken (or plans to undertake) to implement the UN Global Compact principles in each of the four issue areas (human rights, labour, environment, anti-corruption).
• A measurement of outcomes (i.e., the degree to which targets or performance indicators were met, or other qualitative or quantitative measurements of results).

We commit ourselves to notify you on regular basis of our success in regard of the foregoing.

With warmest greetings, please accept, Mr. Secretary-General, the assurances of my highest consideration.

Very truly yours,

Mr. Yakov Sever,
Director of Sum and Substance LTD