The Global Compact seeks to promote responsible corporate citizenship so that business can be part of the solution to the challenges of globalisation. In this way, the private sector in partnership with other social actors can help realize the Secretary-General’s vision: a more sustainable and inclusive global economy. Joining the Global Compact is a widely visible commitment to the initiative’s ten universal principles in the areas of human rights, labour, the environment and anti-corruption.
Today the United Nations Global Compact is the world’s largest voluntary corporate citizenship initiative. Companies join the Global Compact because they share the conviction that business practices rooted in universal principles contribute to a more stable and inclusive global market and help build prosperous and thriving societies. With more than 8,343 participating companies from 162 countries, as well as more than 2,000 nonbusiness participants (as of November 2011), the Global Compact has emerged as a truly global initiative with a strong presence in both North and South.
Benefits to become signatory to UNGC
The Global Compact IS
A voluntary initiative to promote sustainable development and good corporate citizenship
> A set of values based on universally accepted principles
> A network of companies and other stakeholders
> A forum for learning and exchange of experiences
The Global Compact IS NOT
> Legally binding
> A means of monitoring company behavior and enforcing compliance
> A standard, management system, or code of conduct
> A regulatory body
> A public relations channel