The Global Compact

The UN Global Compact is an accord between the United Nations and business for cooperation and promotion in upholding a set of core values in the areas of human rights, labour standards and environmental practice.  It was proposed in a speech to the business community at the World Economic Forum in January 1999 by the then UN Secretary General Kofi Annan.  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 globalisation.

The ten principles

The Global Compact asks companies to embrace, support and enact, within their sphere of influence, a set of core values in the areas of human rights, labour standards, the environment, and anti-corruption:

The principles enjoy universal consensus and are derived from:

• The Universal Declaration of Human Rights
• The International Labour Organization's Declaration on Fundamental Principles and Rights at Work
• The Rio Declaration on Environment and Development
• The United Nations Convention Against Corruption

Principles

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 labour;
Principle 5: The effective abolition of child labour; and
Principle 6: The elimination of discrimination in respect of employment and occupation. 

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  

Anti-Corruption

Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.