What is Global Compact?

The Aim of Global Compact

Global Compact is an international agreement, launched by the United Nations in 2000, to encourage companies to commit to sustainable development.

The agreement, which was introduced by Kofi Annan in 1999, consists of ten universally-accepted principles which focus on human rights, labour, environment and anti-corruption.

These principles are to be integrated and applied to the company’s operations, management and strategy.

The objective of the Global Compact is to ensure that the international community and the business world are working towards the same goals.

Common goals, such as building markets, combating corruption, protecting the environment and ensuring social cohesion, have resulted in unprecedented partnerships and transparency among business, government, civil society, labour and the United Nations.

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The Participants

Every year, participants of Global Compact are expected to indicate, in the annual report, the way in which they implement the principles and support broader developmental objectives. This is known as the Communication on Progress.

The UN Global Compact is a leadership initiative that requires a commitment signed by the company’s chief executive officer. Any company joining the initiative is expected to integrate the principles into its business strategy and its decision-making process.

By joining Global Compact, participants engage in a partnership to advance broader development objectives. They are expected to advance Global Compact and responsible business practice through advocacy and active outreach to peers, partners, clients, consumers and the public at large.

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The Ten Global Compact Principles:

The UN Global Compact requires companies to embrace, support and endorse a set of core values in the following areas:

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