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Global Compact was first brought out by UN Secretary-General Kofi Annan in his speech at Global Economic Forum on January 31st 1999. The Global Compact's operational phase was launched at UN Headquarters in New York on 26th July 2000. Global Compact is an international call by UN Secretary-General to invite leaders from business circles: That will bring companies together with UN agencies, labor and non-governmental organization to support Ten Principles including human right, labor and environment.
Through the power of collective action, the Global Compact seeks to promote responsible corporate citizenship so that business can be part of the solution to the challenges of globalization. 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.
Today, thousands of companies from all regions of the world, international labor and civil society organizations are engaged in the Global Compact. The Global Compact is a pioneering work proposed by UN Secretary-General, concise and flexible.
The Global Compact is a purely voluntary initiative with two objectives for corporate citizens:
- Mainstream the Global Compact and its principles in business strategies and activities;
- Catalyze cooperation between parties of major interest and facilitate partnership to support UN goals
To achieve these objectives, the Global Compact offers facilitation and engagement through following mechanisms: Policy Dialogues, Learning, Country/Regional Networks, and Partnership Projects.
The Global Compact is not a regulatory instrument - it does not "police", enforce or measure the behavior or actions of companies. Rather, the Global Compact relies on public accountability, transparency and the enlightened self-interest of companies, labor and civil society to initiate and share substantive action in pursuing the principles upon which the Global Compact is based.
The Global Compact is a network and its core is the Global Compact Office and following four UN agencies: Office of the Senior Commissioner for Human Rights, United Nations Environment Program, International Labor Organization and United Nations Development Program. The Global Compact involves all the relevant social actors: governments, who defined the principles on which the initiative is based; companies, whose actions it seeks to influence; labor, in whose hands the concrete process of global production take place; civil society organizations, representing the wider community of stakeholders; and The United Nations, the world's only truly global political forum, as an authoritative convener and facilitator.
Ten Principles:
The Global Compact's ten principles in the areas of human rights, labor, and the environment enjoy universal consensus and are derived from:
-The Universal Declaration of Human Rights;
- The International Labor Organization's "Declaration on Fundamental Principles and Rights at Work";
- The Rio Declaration on Environment and Development
Ten Principles are:
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.
Labour Standards
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 labor;
Principle 5: the effective abolition of child labor; and
Principle 6: the elimination of discrimination in respect of employment and occupation.
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Environment
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 all forms of corruption, including extortion and bribery.
How to Participate
As a voluntary initiative, the Global Compact seeks wide participation from a diverse group of businesses and other organizations. To participate in the Global Compact, a company:
- Sends a letter from the Chief Executive Officer (and endorsed by the board if possible) to the Secretary-General of the United Nations expressing support for the Global Compact and its principles (Address: United Nations，New York, N.Y. 10017；Fax: 212-963-1207);
- Sets in motion changes to business operations so that the Global Compact and its principles become part of strategy, culture and day-to-day operations;
- Is expected to publicly advocate the Global Compact and its principles via communications vehicles such as press releases, speeches, etc.; and
- Is expected to publish in its annual report (or similar corporate report) a description of the ways in which it is supporting the Global Compact and its ten principles.
In terms of the practical ways in which companies pursue the principles, the Global Compact offers engagement opportunities to all participants through the following:
- Global Policy Dialogues. Each year, the Global Compact convenes a series of action-oriented meetings that focus on specific issues related to globalization and corporate citizenship. The meetings bring businesses together with UN agencies, labor, non-governmental organizations and other groups to produce solutions to contemporary problems. Issues addressed have included "The Role of the Private Sector in Zones of Conflict"; and "Enterprise and Sustainable Development".
- Local Networks. The Global Compact encourages the creation of local structures and networks at the country or regional level. Such networks are designed to support: the implementation of the ten principles; mutual learning and information exchange; the convening of local/regional dialogues on globalization issues; partnership projects; and the recruiting of additional companies.
- Learning. Companies are invited to share examples of corporate practices on the Global Compact web portal. In addition, participants are encouraged to develop in-depth case studies and analyses, and to use these for learning activities in the corporate and academic worlds. Local, regional and international Learning events support the sharing of knowledge.
- Partnership Projects. The Global Compact encourages companies to participate in partnership projects with UN agencies and civil-society organizations that are aligned with UN development goals.
Why Participate
There are numerous benefits to participating in the Global Compact, including:
- Producing practical solutions to contemporary problems related to globalization, sustainable development and corporate responsibility in a multi-stakeholder context.
- Supporting the universal principles and responsible corporate citizenship awareness, enhancing sustainability and global economy and universal participation.
- Leveraging the UN's global reach and convening power with governments, business, civil society and other stakeholders.
- Sharing good practices and learnings.
- Accessing the UN's broad knowledge in development issues and its global influence.
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