UN Global Compact - what and how ?

The UN Global Compact is a call to companies to align their strategies and operations with ten universal principles related to 

1. human rights

2. labour

3. environment and 

4. anti-corruption and take actions that advance societal goals and the implementation of the SDGs

The ten principles of UN Global Compact

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

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.

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12,000+ signatories in over 160 countries, both developed and developing, representing nearly every sector and size.  Participants in the UN Global Compact include over 12,000 companies and 3,000 non-business signatories, making it “the world's largest corporate sustainability initiative.” Participants commit to Ten Principles covering human rights, labor, environmental protection, and anti-corruption. www.unglobalcompact.org

By incorporating the Ten Principles of the UN Global Compact into strategies, policies and procedures, and establishing a culture of integrity, companies are not only upholding their basic responsibilities to people and planet, but also setting the stage for long-term success. These points which comprise the UN Global Compact are non-legally binding.

The fees for joining the different action platforms ranges from $20,000 (for companies with revenues more than $5 billion) to $1250 (for companies with revenues less than $25 million).

The basic purpose of the UN Global Compact is to ensure that all governments and corporates of the world voluntarily collaborate and partyicipate to adhere to the 17 SDGs and finally restrict the global rise in temperature to less than 1.5 deg C.

George.