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Global Compact
 What is the Global Compact? In 1999 at the World Economic Forum in Davos, UN Secretary General Kofi Annan proposed a "Global Compact" between the United Nations and the world business community. The Global Compact is an initiative to safeguard sustainable growth within the context of globalization by promoting a core set of universal values which are fundamental to meeting the socio-economic needs of the world's people. It is an effort to give a human face to the global market.
2004 saw substantial developments within the Global Compact. In June UN Secretary-General Kofi Annan held a Business Leaders Summit in New York to in effect re-launch the Global Compact with the addition of a tenth principle on bribery and corruption. Linked to this was the establishment of integrity measures to enable complaints to be made against what are seen as non performing companies and a detailed process for reporting company progress. At the level of governance other changes involve devolving more responsibility for Global Compact initiatives to country networks made up of a variety of interested actors, including companies and employers’ organizations. The IOE continues to monitor Global Compact developments. It reissued its Employers Guide to the Global Compact and will continue to support the perspective that the Global Compact can serve as a useful reference for the business community in the area of CSR. |
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The 10 Principles of the Global CompactHuman RightsPrinciple one Business should support and respect the protection of internationally proclaimed human rights. Principle two Businesses should make sure they are not complicit in human rights abuses. Principle three Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining. LabourBusiness should uphold the elimination of all forms of forced and compulsory labour. Principle five Businesses should uphold the effective abolition of child labour. Principle six Businesses should uphold the elimination of discrimination in respect of employment and occupation. EnvironmentPrinciple seven Businesses should support a precautionary approach to environmental challenges. Principle eight Businesses should undertake initiatives to promote greater environmental responsibility. Principle nine Businesses should encourage the development and diffusion of environmentally friendly technologies. Anti-CorruptionPrinciple ten Business should work against corruption in all its forms, including extortion and bribery. New resources from the Global Compact - December 2009Guidance on Human Rights Reporting for Companies A Resource Guide to Corporate Human Rights Reporting: Suveys recent sustainability reports by over 50 companies, examining trends in current corporate disclosures on human rights and highlithts good practice examples as well as ongoing shortcomings in reporting in this area. Corporate Human Rights Reporting - An Analysis of Current Trends: Provides a practical guide for companies on steps they can take to improve their coverage of human rights as part of their sustainability reports; developed through extensive expert consultation onver the past year. 
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