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Article

18 Sep 2007

Author:
UN Global Compact

[DOC] Comments by UN Global Compact Office regarding “Global Compact Critics” blog

The vigilance of civil society is a critical ingredient in the values-based change approach that underpins the United Nations Global Compact...The Global Compact is a voluntary, multi-stakeholder framework for businesses...the Global Compact believes that business, as a primary agent driving globalization, can help ensure that commerce, technology and finance advance in ways that benefit economies and societies everywhere. The initiative is only one part of a larger solution to the challenges of globalization...Notably, it was based on civil society input and advice that the Global Compact implemented an accountability mechanism in 2004. The policy requires participants to communicate annually on the ways in which they are taking actions toward their commitment to the ten principles. Since introducing this...policy, the Global Compact has delisted over 700 companies...

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