The Global Compact is an international initiative by United Nations Secretary-General Kofi Annan, bringing together businesses and UN agencies, the labour world and the civil society around 10 principles related to human rights, labour standards, the environment and anti-corruption. Through the power of collective action, the Global Compact seeks to promote responsible corporate citizenship so that businesses can be part of the solution to the challenges of globalization.
The Global Compact asks companies to embrace, support and enact, within their sphere of influence, a set of 10 core values:
- Businesses should support and respect the protection of internationally proclaimed human rights; and
- make sure that they are not complicit in human rights abuses.
- Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
- the elimination of all forms of forced and compulsory labour;
- the effective abolition of child labour; and
- the elimination of discrimination in respect of employment and occupation.
- Businesses should support a precautionary approach to environmental challenges;
- undertake initiatives to promote greater environmental responsibility; and
- encourage the development and diffusion of environmentally friendly technologies.
- Businesses should work against all forms of corruption, including extortion and bribery.