UN Global Compact
The Global Compact (UNGC), developed by the United Nations (UN), is an innovative corporate responsibility approach that proposes universal principles to create a common development culture in the constantly competitive business world.
It is an innovative approach for corporate responsibility. Since 2000, with the signature of over 9,000 corporate participants and stakeholders from more than 160 countries, the Global Compact, world’s largest voluntary corporate responsibility initiative, has determined 10 universal principles under the main headings of human rights, labor, environment and anti-corruption.
The Ten Principles of the UN Global Compact
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.
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.
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.
Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.