The UN-business Global Compact

In his speech to the Davos World Economic Forum in January 1999, UN Secretary-General Kofi Annan proposed a Global Compact between the UN and business to uphold and promulgate a set of core values in the areas of human rights, labour standards and environmental practice.

His proposal was made against the background of a developing constructive new relationship between the United Nations and business - a relationship reflected in two joint declarations agreed between the Secretary-General and the ICC, wherein each side recognized that their respective goals are mutually supporting.

The Global Compact was formally launched on 26 July 2000 at a meeting at the United Nations chaired by Kofi Annan and attended, among others, by senior officers of some 50 major companies.

The Compact is open for adherence by any company, large or small, wishing to do so. No formalities are involved. Companies are asked to demonstrate their adherence by taking corporate action to support the core values of the Compact.

Companies are free to publicize their adherence to the Compact, but are then expected to follow through with appropriate corporate actions. The core values of the Compact, and how to put them into practice are described on the UN's website (www.un.org - see site index - The Global Compact ).

Click here to read 'The Global Compact: Report on Progress and Activities' (PDF)

Full story of ICC Global Compact Report, International Herald Tribune, 25 January 2001

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