The United Nations Global Compact (UNGC) was established by the UN General Assembly on 26 July 2000. It represents a call to business everywhere to voluntarily align their operations and strategies with ten universally accepted principles in the areas of human rights, labour, environment and anti-corruption, and to take action in support of UN goals and issues. (www.unglobalcompact.org)
The UNGC currently has 12,000 participants, including 8,000 companies and small and medium-sized enterprises, making it the world’s largest corporate sustainability initiative and multi-stakeholder collective action platform.
The UNGC defines Corporate Sustainability as “a company’s creation of long-term value in financial, social, environmental and ethical terms”.The UNGC has grown to become a critical platform for the UN to engage effectively with enlightened global business, and it works through established Local Networks.
To date, there are approximately 98 Global Compact Local Networks which play a critical role by facilitating local engagement and working with participants and other actors (including business, NGOs, local/state government and academia) to advance the work of the UNGC at a local level.